Copenhagen

Bilateral economic relations with Denmark have developed and grown. Trade between Estonia and Denmark amounted to 874.9 million euros in 2024, which was 2.3% of total trade and ranked 10th among countries.

In 2024, Estonia exported goods to Denmark worth 492.3 million euros, which was 2.8% of total exports and made Denmark the 10th export partner for Estonia. Exports of goods have decreased by -6.5% over the year. The main export items were wood and wood products (46.2%) and furniture, lighting, toys and other industrial products (10.9%).

Imports from Denmark amounted to 382.6 million euros in 2024, which was 1.9% of total imports and made Denmark the 13th import partner for Estonia. Imports have also decreased by -18% over the year. The most imported goods were machinery and mechanical equipment (18.6%), prepared food, beverages, alcohol, and tobacco products (13.5%), and chemical products (13.1%).

Trade in goods between Estonia and Denmark from 2020 to 2024 (mln euros)

(Source: Statistikaamet) See the latest data from Statistics Estonian

Exports and imports of services

Exports of services amounted to 221.9 million euros in 2024 and have remained exactly the same year-on-year. The most exported were transport services, worth 90.5 million euros, followed by other business services with 43.3 million euros.

Imports of services amounted to 124.5 million euros in 2024, an increase of 7.8%. Imports of services were also driven by transport, worth 41.9 million euros, followed by other business services with 35.6 million euros.

Direct investments

According to the Bank of Estonia, Denmark’s direct investment position in Estonia as of 31 December 2024 was 688 million euros, accounting for 1.9% of all direct investments in Estonia. Denmark is the 14th largest foreign investor in terms of investment volume.

The main investments are directed to the manufacturing industry, where 190 million euros have been invested. In addition, Denmark has invested 143 million euros in wholesale and retail trade and 133 million euros in financial and insurance activities.

The volume of Estonian direct investments in Denmark amounted to 19 million euros. The largest part of the investments, 9 million euros, is directed to financial and insurance activities. In addition, 3 million euros have been invested in wholesale and retail trade.

Tourism

Estonian residents made a total of 64,821 visits to Denmark in 2024, of which 58,466 were multi-day visits. However, the total number of visits has increased by 21% over the year, and the number of multi-day visits has also increased by 21.5%.

Danish residents made a total of 30,059 visits to Estonia in 2024, of which 24,011 were multi-day. Compared to the previous year, the total number of visits by Danes has increased by 21%, while the number of multi-day visits has increased by as much as 26.6%. In 2023, a total of 24,807 visits were made to Estonia, of which 18,957 were multi-day.

E-residency

By March 29, 2025 there are 738 Danish e-residents who have started 212 companies in Estonia in the framework of e-residency program.

 

Updated 30.04.2025

Visit Eesti Pank and Statistics Estonia for more information. Ask Kristi Kivi Frimpong a trade adviser of Enterprise Estonia who works at the Estonian Embassy in Copenhagen or Scandinavian Chamber of Commerce operating in Tallinn.
Ministry of Economic Affairs and Communication