Business Relations

Bilateral commercial relations have gradually developed, having stabilised in the last years. That said, there is plenty of room for growth of exports and investment between the two countries.

Commercial trade

In 2021, the value of goods exported to Spain was 142 million euros, which made the country Estonia’s 21st trading partner.

Estonia’s main exports to Spain are mineral fuels, electrical equipment, wood and wood products, and motor vehicles.

Estonia’s main imports from Spain are food and beverages, electrical equipment and machinery, vehicles and spare parts, metals and textiles.

More information is available on the website of Statistics Estonia.

Investments

As of 31 December 2020, Spanish direct investment in Estonia was 95.6 million euros and the volume of Estonian direct investment in Spain was 140.3 million euros.

Additional information can be found on Bank of Estonia’s website.

Spain’s interest in the e-residency program is on the rise. As of March 2022, there are nearly 3,200 e-residents with Spanish citizenship, who in turn have created nearly 1,100 companies.

Tourism

Among Estonian tourists, Spain continues to be a popular destination and the decrease in tourists caused by the pandemic is gradually improving.

According to Bank of Estonia, the total number Spanish residents visiting Estonia in 2021 was 22,304. However, this is still far from the pre-pandemic figures (115,803 visits in 2019). The number of visits of Estonian residents to Spain is quite similar (29,353 in 2021).

There are currently direct flights from Tallinn to Barcelona (twice a week), Malaga (twice a week) and additional seasonal flights to Gran Canaria and Tenerife.