The Finland-Estonia Business Association with OP: Baltic economic outlook and China update seminar was organized at OP Vallila on 14th November 2024.

Ms. Kirsi Westerling, OP Corporate Bank opened the seminar explaining OP’s activities in the Baltic States.

“The economies of the Baltic countries have grown at different rates in recent years. Lithuania’s economy has been the strongest of the three, while Estonia’s economy has been contracting for an extended period. In Latvia, there has been no economic growth since 2021. The major factor behind these growth differences is the development in manufacturing sector and the structure of export markets. However, we expect that the economies of all Baltic countries will return to a growth next year, and early signs of economic recovery are already visible also in Estonia and Latvia,” stated Senior Economist Joona Widgrén, OP Financial Group in his presentation.

“China’s economy is experiencing slowdown. The economy is facing different challenges with the real estate market,  debt crisis, weak domestic demand, demographic issue and various geopolitical risks. 2024 is a challenging year for China.  China’s downturn will demand difficult adjustments.  And elections in Europe and in the United States especially US injected uncertainty and instability significantly into China’s international business and trades,” noted Senior Relationship Manager Xiaohan Li, OP Financial Group 
in her China update.

Excellent presentations were followed by lively discussions. 

Quatations writen by the speakers.
For further questions, please, do not hesitate to contact the Finland-Estonia Business Association.