The trade cooperation between the Czech Republic and Estonia has a long tradition and both economies have much in common – they are open and export-oriented economies. Czech- Estonian trade and economic relations boosted after joining the EU in 2004 when both countries became a part of the Single Internal Market of the EU. The upward trend was negatively affected in 2008 by the economic crises. After the decrease of mutual trade in 2008 and 2009 it started to increase again and has a rising trend ever since with the record of mutual turnover in 2017 in the amount of 341,5 mil. eur. The mutual balance of trade continuously shows a surplus in favour of the Czech Republic (165,7 mil. eur in 2017).

The most important Czech export items in 2017 were machinery and transport equipment (142 mil. eur), market products classified by material (44 mil. eur) and miscellaneous industrial products (36,6 mil. eur).

The most imported items from Estonia in 2017 included market products classified by material (29 mil. eur), machinery and transport equipment (22,4 mil. eur) and miscellaneous industrial products (20,3 mil. eur).

According to Eesti Pank (the central bank of Estonia) the volume of Czech investments in Estonia amounted 9,1 mil. eur in 2016.

 

Trade exchange between Czechia and Estonia (in mil. eur)

	2013	2014	2015	2016	2017
Export	198,5	220,7	225,6	236,6	253,6
Import	39,9	41,3	60,9	85,7	87,9
Turnover	238,5	262	286,5	322,3	341,5
Balance	158,5	179,4	164,7	150,9	165,7

Source: Ministry of Industry and Trade