Analytics, Baltic Export, Estonia, Foreign trade , Markets and Companies

In March 2018, exports from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.4 billion euros. The trade deficit was 228 million euros (in March 2017, it was 142 million euros).

In March, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports), Sweden (12%) and Latvia (9%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; electrical equipment and wood and articles of wood (wood in the rough, doors and windows of coniferous wood) were the main commodities exported to Sweden; agricultural products and food preparations (beer, cider) and transport equipment (motor cars) were the main commodities exported to Latvia. The biggest decrease occurred in exports to the Netherlands (down by 26 million euros) and Sweden (down by 22 million euros). In exports to the Netherlands, the exports of mineral products decreased. There was also a decrease in the exports of electrical equipment to Sweden. The biggest increase occurred in exports to Australia and Singapore (up by 18 million euros and 16 million euros, respectively), where mainly mineral products were dispatched.

In March, the biggest share in the exports of goods was held by electrical equipment (17% of the total exports of goods), followed by wood and articles of wood, and mineral products (both 12%). The greatest decrease was in the exports of agricultural products and food preparations (down by 22 million euros), electrical equipment and metals and articles of base metal (both down by 11 million euros). At the same time, there was an increase in the exports of mechanical appliances (up by 19 million euros) and mineral products (up by 12 million euros).

The share of goods of Estonian origin in total exports was 70% in March 2018. The exports of goods of Estonian origin decreased by 7%, i.e. 65 million euros, and re-exports grew by 8%, i.e. 26 million euros. Decreased exports in the commodity sections of electrical equipment and agricultural products and food preparations contributed to the decrease in the exports of goods of Estonian origin.

The main countries of consignment in February were Germany and Finland (both with 12% share of Estonia’s total imports) and Sweden (11%). Transport equipment and electrical equipment were the main commodities imported from Germany; electrical equipment and metals and articles of base metal from Finland; electrical equipment and transport equipment from Sweden. The biggest increase occurred in imports from Belarus (up by 39 million euros, i.e. approximately 11 times), Lithuania (up by 27 million euros) and Sweden (up by 23 million euros). Mineral products (motor spirit, fuel additives) were imported more from Belarus and Lithuania, electrical equipment from Sweden. Imports decreased the most from the Netherlands (down by 23 million euros), China (down by 19 million euros) and Finland (down by 16 million euros).

The main commodities imported to Estonia were electrical equipment (15% of Estonia’s total imports of goods), mineral products (13%) and mechanical appliances (12%). The greatest increase was in the imports of mineral products (up by 73 million euros) and base metals and articles of base metal (up by 14 million euros). In March, the greatest decrease occurred in the imports of raw materials and products of chemical industry (down by 12 million euros).

In March 2018, the foreign trade export volume index decreased by 2% and the import volume index by 5% compared to March 2017.

In the 1st quarter of 2018, exports from Estonia amounted to 3.3 billion euros and imports to Estonia to 3.8 billion euros. The trade deficit in the 1st quarter was 541 million euros (in the 1st quarter of 2017, it was 652 million euros).

In the 1st quarter of 2018, the growth in exports, compared to the same period of the previous year, was supported by increased exports of mineral products (up by 100 million euros), mechanical appliances (up by 48 million euros) and transport equipment (up by 26 million euros). In the comparison by countries, exports have increased the most to Singapore, Finland, Canada and Germany. At the same time, exports to Sweden have decreased the most.

In the 1st quarter, the growth in imports was affected the most by an increase in the imports of mineral products (up by 109 million euros), mechanical appliances (up by 73 million euros), and base metals and articles of base metal (up by 55 million euros). By countries, imports in the first quarter of 2018 compared to the 1st quarter of 2017 grew the most from Belarus, Sweden and Latvia. Imports from Finland decreased the most.

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 and 15 April 2018, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 April 2018. Statistics Estonia published the monthly summary of foreign trade in 13 working days. In the case of the statistical activity “Foreign trade”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.