Northern Europe with Estonia and Finland topping the list among the OECD countries in Europe. Northern Europe Northern Europe is the general term for the geographical region in Europe that is approximately north of the southern coast of the Baltic Sea. Nations usually included within this region are Denmark, Estonia, the Faroe Islands, Finland, Iceland, Latvia, Lithuania, Norway and Sweden, and less often the United Kingdom, the Republic of Ireland, northern Germany, northern Belarus and northwest Russia. Narrower definitions may be based on other geographical factors such as climate and ecology. A broader definition would include the area north of the Alps.
Estonia–Finland relations visiting Estonia. The excise tax on alcohol is lower in Estonia than in Finland, thus it is common to buy large volumes of alcohol when returning from Estonia: a study in 2014 indicated that 34% of alcohol sold in Estonia is bought by Finns. Finnish and Swedish investors are the largest foreign investors in Estonia. Both Finland and Estonia are members of the European Union, Schengen agreement and the Eurozone, freeing international travel and trade between the countries. Finland is Estonia's top import partner, accounting for over 15% total import value in 2012, as well as the second-greatest market for