Analytics, Baltic States – CIS, EU – Baltic States, Foreign trade , Markets and Companies

During the first seven months of the year, Estonia exported altogether 7.8 billion euros' worth of goods, 8% less than during the same period last year. 5.3 billion euros' worth of goods were exported to the EU.

Altogether 8.4 billion euros' worth of goods were imported to Estonia, 11% less than during the same period in 2019. 6.3 billion euros' worth of goods were imported to Estonia from the EU. Estonia's trade deficit decreased from 900 million euros in the first seven months of 2019 to 600 million euros during the same period this year.

Intra-euro area trade fell to 153.7 billion in July 2020, down by 8.6% compared with July 2019.

The EU recorded a 25.8-billion-euro surplus in trade in goods with the rest of the world in July 2020, compared with 20.2 billion euros in July 2019.

The first estimate for extra-EU exports of goods in July 2020 was 168.5 billion euros, down by 11.3% compared with July 2019. Imports from the rest of the world stood at 142.6 billion euros, down by 16% compared with July 2019. Intra-EU trade fell by 7.4% to 239.2 billion euros in July 2020 compared with July 2019.

In July 2020, compared with July 2019, exports of goods decreased for all member states, except Malta, +16.1%, Slovenia, +10.6%, Estonia, +9.4%, and Slovakia, +8.8%. The largest decreases were registered in Greece, -23.8%, Finland, -19.6%, France, -19.5% and Croatia, -19.2%.

With regard to imports, in July 2020 compared to July 2019, all member states recorded significant drops, except Ireland which saw an increase by 2.7%. The highest overall falls were observed in Cyprus, -32.7%, Austria, -31.3%, and Portugal, -30.1%.

In January to July 2020, euro area exports of goods to the rest of the world fell to 1.2 trillion euros, a decrease of 12.4% compared with January-July 2019. Imports fell to 1.087 trillion euros, a decrease of 13.1% compared with January-July 2019.

As a result the euro area recorded a surplus of 113 billion euros, compared with 119.3 billion euros in January-July 2019. Intra-euro area trade fell to 1.022 trillion in January-July 2020, down by 13.0% compared with January-July 2019.

In January to July 2020, extra-EU exports of goods fell to 1.09 trillion euros, a decrease of 12.2% compared with January-July 2019, and imports fell to 990 billion euros, a decrease of 13.1% compared with January-July 2019.

As a result, the EU recorded a surplus of 99.7 billion euros, compared with 101.8 billion euros in January-July 2019. Intra-EU trade fell to 1.6 trillion euros in January-July 2020, a decrease of 11.9% compared with January-July 2019.