Analytics, Estonia, Export, Statistics
International Internet Magazine. Baltic States news & analytics
Thursday, 28.03.2024, 16:34
Estonian exports grew faster than imports in September
In September, exports from Estonia amounted to 1.1 bln euros
and imports to Estonia to 1.2 bln euros at current prices. The trade deficit
was 62 mln euros (in September 2015, it was 161 mln euros).
The top destination country of Estonia’s exports in
September was Sweden (15% of Estonia’s total exports), followed by Finland
(15%) and Latvia (10%). The biggest increase occurred in exports to the
Netherlands, Mexico and Germany (up by 33 mln, 26 mln and 16 mln euros,
respectively). Compared to September 2015, more mineral products were exported
to the Netherlands and more electrical equipment to Mexico and Germany. Exports
to the main destination country Sweden decreased by 13 mln euros.
The biggest share in Estonia’s exports in September was held
by electrical equipment, followed by mineral products, agricultural products
and food preparations and miscellaneous manufactured articles. The increase in
exports was greatly influenced by the exports of mineral products (incl. motor spirits,
shale oil), electrical equipment (incl. communication equipment) and mechanical
appliances (incl. industrial equipment). There was a decrease in the exports of
agricultural products and food preparations.
The share of goods of Estonian origin in total exports was
71% in September. Compared to September 2015, the exports of goods of Estonian
origin increased by a tenth and re-exports, i.e. the exportation of goods
imported from a foreign country, by a fifth. The exports of goods of Estonian
origin were influenced the most by a rise in the exports of mineral products,
electrical equipment and mechanical appliances. Among goods of Estonian origin,
the biggest decrease occurred in the exports of agricultural products and food
preparations.
The main countries of consignment in September were Finland
(13% of Estonia’s total imports), Germany (12%), Lithuania (10%) and Latvia
(10%). The biggest rise occurred in imports from the Netherlands, Russia and
the Czech Republic. Compared to September 2015, there was a growth in the
imports of electrical equipment from the Netherlands, of mineral products from
Russia and of electrical equipment from the Czech Republic. The greatest
decrease occurred in imports from Finland.
In September, the main commodities imported to Estonia were
electrical equipment, agricultural products and food preparations, and
transport equipment. The growth in imports was influenced the most by the
imports of transport equipment and raw materials and products of the chemical
industry. The biggest fall occurred in the imports of mechanical appliances.
In the 3rd quarter of 2016, exports increased 7% and imports
1%, the previous time that exports grew this much quarter-over-quarter was in
the 3rd quarter of 2012. Export growth compared to the same period of 2015 was
influenced the most by the increased exports of electrical equipment and
mineral products. In the 3rd quarter, among destination countries, the biggest
increase occurred in exports to Mexico, Romania and the Netherlands.
Country of destination, group of countries | Exports, million euros | Share, % | Change compared to same month of previous year, % | Country of consignment, group of countries | Imports, million euros | Share, % | Change compared to same month of previous year, % |
---|---|---|---|---|---|---|---|
TOTAL | 1 103.9 | 100 | 13 | TOTAL | 1 166.1 | 100 | 2 |
EU-28 | 798.6 | 72 | 7 | EU-28 | 988.6 | 85 | 2 |
Euro area 19 | 526.9 | 48 | 14 | Euro area 19 | 692.5 | 59 | 2 |
Non-EU | 305.3 | 28 | 30 | Non-EU | 177.5 | 15 | 4 |
1. Sweden | 169.7 | 15 | -7 | 1. Finland | 154.2 | 13 | -5 |
2. Finland | 167.1 | 15 | 1 | 2. Germany | 135.4 | 12 | 1 |
3. Latvia | 108.3 | 10 | 4 | 3. Lithuania | 117.3 | 10 | 1 |
4. Russia | 73.9 | 7 | 15 | 4. Sweden | 111.2 | 10 | 3 |
5. Germany | 66.5 | 6 | 32 | 5. Latvia | 98.2 | 8 | 5 |
6. Lithuania | 63.7 | 6 | 5 | 6. Poland | 82.1 | 7 | -4 |
7. Netherlands | 57.6 | 5 | - | 7. Netherlands | 70.7 | 6 | 17 |
8. Norway | 47.8 | 4 | 8 | 8. Russia | 51.6 | 4 | 18 |
9. USA | 29.7 | 3 | 16 | 9. China | 44.2 | 4 | -9 |
10. Mexico | 28.8 | 3 | - | 10. United Kingdom | 29.9 | 3 | -7 |