Analytics, Estonia, Foreign trade , Statistics

International Internet Magazine. Baltic States news & analytics Sunday, 29.11.2020, 19:26

Estonia: In 2019, trade stayed at the same level as in 2018

BC, Tallinn, 12.02.2020.Print version
According to Statistics Estonia, in 2019, compared to 2018, the exports of goods stayed at the same level and imports decreased by 1%. The substantial increase in trade in the first half of the year compensated for the decrease in the second half.

In 2019, Estonia’s exports of goods amounted to 14.4 bn euros and imports to 16.1 bn euros at current prices. The trade deficit was 1.69 bn euros and its decrease was mainly due to increase in the exports of agricultural products and food preparations. The largest deficit was registered in the trade in transport equipment and in raw materials and products of the chemical industry. The largest surplus was in the trade in wood and articles of wood and miscellaneous manufactured articles.

Estonia exported goods to 183 countries and imported goods from 145 countries. A positive foreign trade balance was recorded with 137 countries. The share of European Union countries (incl. the United Kingdom) in Estonia’s total exports was 70% and, in total imports, 79%. In trade with EU countries, exports increased by 3% and imports by 1%. The trade in goods with non-EU countries decreased – exports by 8% and imports by 7%.

The top destination countries of Estonia’s exports were Finland, Sweden and Latvia. The biggest increase occurred in exports to Denmark (up by 127 mln euros) and Spain (up by 86 mln euros), where fuels were exported more. Exports decreased the most to Singapore (down by 178 mln euros) and Latvia (down by 71 mln euros).

Similarly to previous years, the biggest exports from Estonia were electrical equipment, mineral products, and wood and articles of wood. The greatest impact on exports came from agricultural products and food preparations (up by 226 mln euros), transport equipment (up by 142 mln euros) and mechanical appliances (up by 106 mln euros). Exports decreased the most for mineral products (down by 450 mln euros) and electrical equipment (down by 184 mln euros).

Goods of Estonian origin accounted for 71% of the total exports of goods. Compared to 2018, their exports decreased by 1% and re-exports increased by 3%. There was a significant decrease in the exports of mineral products and electrical equipment of Estonian origin. The exports of agricultural products and food preparations increased. The main export countries for goods of Estonian origin were Finland, Sweden and the USA.

The main countries of consignment in 2019 were Finland, Lithuania and Germany. Imports decreased the most from Belarus (decrease in the export of fuels) and the Netherlands (electrical equipment). Imports increased the most from Sweden (more cars imported), Latvia (increased fuel imports) and Lithuania (more electrical equipment imported). The main commodities imported to Estonia were mineral products, electrical equipment and transport equipment. The biggest decrease occurred in the imports of mineral products and electrical equipment and the biggest increase in the imports of transport equipment.

In December 2019, the exports of goods from Estonia amounted to 1.1 bn euros and imports to Estonia to 1.3 bn euros. Compared to December 2018, exports increased by 1% and imports by 3%. In December 2019, the growth in exports was affected the most by cereals and, the growth in imports, by fuels.

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