Friday, 02 August 2019 08:03

Flourishing fishing sector contributes to Estonian growth

Estonia’s economy has grown 4.5% in the first quarter of 2019 with a new GDP totaling €6.7 billion. The country’s economic growth has been broad based with expansion of the fishing sector among the contributors to the improving economy.  The exports of goods, which grew by 9.6% in the first quarter, the fastest pace recoded in the past two years, is one of the biggest contributors to the country’s healthy economy.

Fish processing continues to be a notable industry in Estonia. In 2017 Estonia processed 51876 tones of fish, mainly frozen saltwater fish but also fish fillets in batter, and canned sardines, sardinella, brisling and sprats. Exports totaled €146 million with the largest markets in Ukraine, Belarus, Denmark and Finland.  In 2017 approximately 5% of Estonia’s aquaculture production was exported. The species responsible for this exportation were mainly European eel, rainbow trout and European crayfish.