Estonia listed as largest exporter of Baltic states: report

Estonia has become the largest exporter of the three Baltic states with exports making up two thirds of its Gross Domestic Product (GDP) last year, data showed on Monday.

Exports made up over two thirds of Estonia's GDP last year, putting the northernmost Baltic state ahead of Lithuania and Latvia.

While exports account for a significant portion of the economy in the Baltics, compared with the share of exports in the Eurozone as a whole falling below half of the GDP, the export market is different in each of the three Baltic states, the online Estonian Public Broadcasting reported.

Estonia exports to Nordic countries Sweden and Finland the most, while Latvia exports primarily to Lithuania and Estonia, and Lithuania to Russia and Latvia, it added.

Estonia's chief exports include machines, equipment and wood products, while investments and product sales between Estonia, Latvia and Lithuania have grown significantly this year, said the report.

Rurally-based businesses, nonetheless, face a crucial challenge: companies located far away from large population centers have a more difficult time securing loans in Estonia, experts said.

How to increase the value added of their respective exported goods, in any case, remains a key issue in all three Baltic states, the report noted. Endit