Analytics, Baltic Export, Baltic States – CIS, Estonia, EU – Baltic States, Foreign trade

In June, exports from Estonia amounted to 1 billion euros and imports to Estonia to 1.2 billion euros at current prices. The trade deficit was 145 million euros and it decreased by 24 million euros compared to June 2014.

The biggest share in Estonia’s exports in June was held by electrical equipment (22% of Estonia’s total exports), followed by mineral products (12%), and wood and products thereof (10%). The increase compared to June 2014 was highest in the exports of transport equipment (up by 10 million euros), miscellaneous manufactured articles (up by 9 million euros) and wood and products thereof (up by 8 million euros). The biggest decrease occurred in the exports of mechanical appliances (down by 6 million euros) and agricultural products and food preparations (down by 5 million euros), compared to June of the previous year.

In June, the main commodities imported were electrical equipment (17% of Estonia’s total imports), mineral products (14%), and agricultural products and food preparations (11%). The drop in imports was most influenced by an increase in the imports of mineral products (up by 20 million euros). At the same time, the imports of electrical equipment decreased the most (down by 36 million euros).

The top destination country of Estonia’s exports in June was Sweden (20% of Estonia’s total exports), followed by Finland (16%) and Latvia (10%). Electrical equipment and wood and products thereof were the main commodities exported to Sweden; electrical equipment and metals and products thereof were the main commodities exported to Finland; mineral products (incl. electricity) and agricultural products and food preparations were the main commodities exported to Latvia. The biggest increase occurred in exports to Sweden, Lithuania and the USA. Exports to Sweden increased mainly due to an increase in the exports of electrical equipment and furniture, to Lithuania due to that of transport equipment, and to the USA due to that of mineral products. At the same time, there was a significant decrease in exports to Russia (down by 17 million euros).

The main countries of consignment in June were Finland (15% of Estonia’s total imports), Lithuania (11%), and Germany (11%). The main commodities imported were electrical equipment and mineral products (incl. motor spirits, electricity) from Finland, mineral products and agricultural products and food preparations from Lithuania, mechanical appliances and transport equipment from Germany. The biggest increase occurred in imports from Lithuania (up by 30 million euros), this was mainly due to an increase in the imports of mineral products (incl. motor spirits). At the same time, there was a decrease in imports from the Netherlands (down by 18 million euros).

In June compared to May 2015, exports increased by 6% and imports by 11%.

In the first half-year, exports decreased by 1% and imports by 4% compared to the same period of the previous year. The decrease of both exports and imports in the first half-year compared to the same period of the previous year was mostly influenced by a decrease in the trade of agricultural products and food preparations, mineral products, and mechanical appliances.

In the first half-year, the biggest decrease was in exports to Russia (down by 249 million euros). At the same time, the biggest increase was in exports to Sweden (up by 122 million euros).

The biggest decrease in the first half-year occurred in imports from Finland and Germany (down by 102 million and 107 million euros, respectively). At the same time, imports from China increased (up 60 million euros).

Estonia’s foreign trade, January–June, 2014–2015

Main foreign trade partners of Estonia, June 2015

Exports and imports by commodity sections, June 2015

The statistics are based on the questionnaires “Intrastat” and “Exports” (sale of fish and crustaceans in foreign waters and ports)”, the due dates of which were, respectively, 14 July 2015 and 15 July 2015, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 July 2015. Statistics Estonia published the monthly summary of foreign trade in 14 working days.