Analytics, Estonia, Foreign trade , Statistics

International Internet Magazine. Baltic States news & analytics Tuesday, 23.10.2018, 11:26

Estonia's August exports up 7% on year

Mirgit Silla, Leading Analyst, Enterprise and Agricultural Statistics Department, Statistics Estonia, 10.10.2018.Print version
According to Statistics Estonia, in August 2018, the exports of goods increased by 7% and imports by 11% compared to August 2017. The growth in trade was affected the most by an increase in trade in mineral products (fuel additives, motor spirit) and raw materials and products of chemical industry (fertilizers).

In August 2018, exports from Estonia amounted to 1.2 bln euros and imports to Estonia to 1.3 bln euros at current prices. The trade deficit was 155 mln euros (in August 2017, it was 96 mln euros).


In August 2018, the top destination countries of Estonia’s exports were Finland (17% of Estonia’s total exports of goods), Sweden and Latvia (both 11%). 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 were the main commodities exported to Sweden; mineral products (electricity, fuel additives) and agricultural products and food preparations (raw milk, beer) were the main commodities exported to Latvia. The biggest increase occurred in exports to the USA (up by 4 times, or 58 mln euros), Saudi Arabia (up by 13 mln euros) and Finland (up by 12 mln euros). In exports to the USA, the exports of electrical equipment (data communication equipment) and mineral products increased the most. There was also an increase in the exports of mineral products to Saudi Arabia and wood and articles of wood to Finland. The biggest decrease occurred in exports to Russia (down by 13 mln euros), with smaller exports of raw materials and products of chemical industry (caulking compounds and other mastics).


In August, the biggest share in the exports of goods was held by electrical equipment and mineral products (both 15% of the total exports of goods), followed by wood and articles of wood, miscellaneous manufactured articles and mechanical appliances (9% each). The greatest increase was in the exports of mineral products (up by 28 mln euros) and mechanical appliances (up by 16 mln euros) and raw materials and products of chemical industry (up by 14 mln euros).


The share of goods of Estonian origin in total exports was 71% in August 2018. The exports of goods of Estonian origin increased by 4% and re-exports by 14%. In the exports of goods of Estonian origin, the greatest increase was in the exports of mineral products (electricity, heavy oil), wood and articles of wood (coniferous pulpwood, plywood). The share of goods of Estonian origin was largest in the exports of wood and articles of wood (97%), miscellaneous manufactured articles, paper and articles thereof and vegetable fats and oils (92% in each). The share of goods of Estonian origin accounted for 71% of the exports of mineral products and 54% of the exports of raw materials and products of chemical industry.


The main countries of consignment in August 2018 were Finland (12% of Estonia’s total imports of goods), Lithuania and Russia (both 11%). From Finland, mineral products and electrical equipment were imported the most. In imports from Lithuania, mineral products and agricultural products and food preparations had the highest share, while mineral products and raw materials and products of chemical industry were the main commodities imported from Russia. The biggest increase occurred in imports from Russia (imports doubled, or up by 72 mln euros), Belarus (up by four times or 26 mln euros) and Lithuania (up by 26 mln euros), with the imports of mineral products (fuel additives, motor spirit) increasing the most from each country.


The main commodities imported to Estonia were mineral products (16% of Estonia’s total imports of goods), electrical equipment (13%) and mechanical appliances (10%). The greatest increase was in the imports of mineral products (up by 91 mln euros) and raw materials and products of chemical industry (up by 23 mln euros).


In August 2018, the foreign trade export volume index increased by 6% and the import volume index by 4% compared to August 2017.

 

Estonia’s foreign trade by month, 2017–2018

Month

Exports, mln euros

Imports, mln euros

Balance, mln euros

 

2017

2018

change, %

2017

2018

change, %

2017

2018

 

TOTAL

8,416

9,355

11

9,810

10,701

9

-1,395

-1,345

 

January

941

1,030

9

1,352

1,252

-7

-412

-222

 

February

974

1,113

14

1,075

1,203

12

-101

-90

 

March

1,182

1,137

-4

1,323

1,360

3

-141

-224

 

April

1,029

1,190

16

1,214

1,360

12

-186

-170

 

May

1,151

1,240

8

1,305

1,442

11

-154

-203

 

June

1,089

1,265

16

1,206

1,416

17

-117

-151

 

July

942

1,194

27

1,130

1,325

17

-188

-130

 

August

1,109

1,187

7

1,205

1,342

11

-96

-155

 

 

Main foreign trade partners of Estonia, August 2018

 

Country of destination, group of countries

Exports, mln euros

Share, %

Change on same month of previous year, %

Country of consignment, group of countries

Imports, mln euros

Share, %

Change on same month of previous year, %

 

TOTAL

1,187

100

7

TOTAL

1,342

100

11

 

EU-28

838

71

5

EU-28

1,013

75

2

 

Euro area 19

594

50

6

Euro area 19

738

55

5

 

Non-EU

349

29

13

Non-EU

329

25

57

 

1. Finland

202

17

6

1. Finland

161

12

7

 

2. Sweden

136

11

-7

2. Lithuania

143

11

22

 

3. Latvia

125

11

8

3. Russia

141

11

-

 

4. USA

77

6

-

4. Germany

134

10

-4

 

5. Lithuania

73

6

4

5. Sweden

111

8

-11

 

6. Germany

72

6

6

6. Latvia

110

8

5

 

7. Russia

69

6

-16

7. Poland

79

6

-3

 

8. Norway

53

4

5

8. Netherlands

72

5

0

 

9. Netherlands

43

4

-14

9. China

54

4

5

 

10. Denmark

32

3

26

10. Belarus

34

3

-

 

 

 

Exports and imports by commodity section, August 2018

Commodity section (chapter) by Combined Nomenclature (CN)

Exports

Imports

Balance, mln euros

 

mln euros

share, %

change on same period of previous year, %

mln euros

share, %

change on same period of previous year, %

 

TOTAL

1,187

100

7

1,342

100

11

-155

 

Agricultural products and food preparations (I–IV)

91

8

0

132

10

2

-42

 

Mineral products (V)

178

15

19

217

16

73

-39

 

Raw materials and products of chemical industry (VI)

67

6

25

117

9

24

-50

 

Articles of plastics and rubber (VII)

37

3

-2

76

6

6

-40

 

Wood and articles of wood (IX)

113

9

11

49

4

24

64

 

Paper and articles thereof (X)

31

3

10

21

1

-7

10

 

Textiles and textile articles (XI)

34

3

-1

62

5

3

-28

 

Base metals and articles of base metal (XV)

91

8

-2

120

9

8

-29

 

Mechanical appliances (84)

103

9

19

133

10

5

-30

 

Electrical equipment (85)

180

15

-3

172

13

-6

8

 

Transport equipment (XVII)

76

6

19

124

9

2

-48

 

Optical, measuring, precision instruments (XVIII)

35

3

12

31

2

12

5

 

Miscellaneous manufactured articles (XX)

108

9

0

33

2

-6

75

 

Other

44

3

-2

57

4

-3

-13

 

 






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