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Friday, 29.03.2024, 15:09
In May, trade intensified in Estonia
In May 2017, exports from Estonia amounted to 1.2 billion euros and imports
to Estonia to 1.3 billion euros at current prices. The trade deficit was
153 million euros (in May 2016, it was 147 million euros).
The top
destination countries of Estonia’s exports in May were Finland (16% of
Estonia’s total exports), Sweden (14%) and Latvia (9%). The biggest increase
occurred in exports to Russia (up by 28 million euros), Canada (up by 23
million euros), Saudi Arabia (up by 20 million euros) and Germany (up by 20
million euros). Exports to Russia and Canada grew mainly due to re-exports but
to Saudi Arabia and Germany due to increased exports of goods of Estonia
origin. In exports to Russia, the exports of mechanical appliances (incl. excavators,
wood and ores processing machines), to Canada, the exports of mineral products
(incl. motor spirit), to Saudi Arabia, the exports of mineral products (incl.
shale oil) and agricultural products (incl. feed barley) and to Germany, the
exports of electrical equipment (incl. communication equipment) increased. The
biggest decrease occurred in exports to Sweden (down by 39 million euros),
where less electrical equipment was exported.
The biggest share
in exports was held by electrical equipment, followed by wood and articles of
wood, and mineral products. The greatest increase was in the exports of mineral
products (up by 53 million euros), agricultural products and food preparations
(up by 28 million euros), mechanical appliances (up by 28 million euros), and
wood and articles of wood (up by 24 million euros). At the same time, the
exports of electrical equipment decreased (down by 43 million euros).
The share of goods
of Estonian origin in total exports was 72% in May. In May 2017, the exports of
goods of Estonian origin increased 12% and re-exports 25%. The rise in the
exports of goods of Estonian origin was affected the most by an increase in the
exports of mineral products (incl. shale oil, electricity), wood and articles
of wood (incl. coniferous saw-timber, wood pellets), agricultural products and
food preparations (incl. cereals) and miscellaneous manufactured articles
(incl. furniture and log houses).
The main countries
of consignment in May 2017 were Finland (12% of Estonia’s total imports), Germany
(11%), Lithuania (9%) and Sweden (9%). The biggest increase occurred in imports
from Russia (up by 41 million euros) and Sweden (up by 17 million euros).
Mostly mineral products (incl. motor spirit, fuel oil) were imported from
Russia and transport equipment and mineral products (incl. bitumen) from
Sweden. Imports from Hungary decreased the most, with less electrical equipment
imported.
The main
commodities imported to Estonia were electrical equipment, mineral products,
transport equipment, agricultural products and food preparations, and
mechanical appliances. The biggest increase was in the imports of mineral
products and base metals and articles of base metals, and the biggest fall
occurred in the imports of electrical equipment.
In May 2017, the foreign trade export volume index
increased by 1% and the import volume index by 11% compared to the same period
of the previous year.
Main foreign trade partners of Estonia, May 2017 |
|
|||||||
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 |
1 152 |
100 |
15 |
TOTAL |
1 304 |
100 |
14 |
|
EU-28 |
810 |
70 |
7 |
EU-28 |
1 051 |
81 |
10 |
|
Euro area 19 |
534 |
46 |
17 |
Euro area 19 |
750 |
58 |
9 |
|
Non-EU |
341 |
30 |
41 |
Non-EU |
253 |
19 |
31 |
|
1. Finland |
180 |
16 |
10 |
1. Finland |
162 |
12 |
8 |
|
2. Sweden |
167 |
14 |
-19 |
2. Germany |
138 |
11 |
6 |
|
3. Latvia |
100 |
9 |
5 |
3. Lithuania |
120 |
9 |
10 |
|
4. Russia |
80 |
7 |
53 |
4. Sweden |
112 |
9 |
17 |
|
5. Germany |
72 |
6 |
39 |
5. Latvia |
106 |
8 |
9 |
|
6. Lithuania |
70 |
6 |
15 |
6. Russia |
89 |
7 |
85 |
|
7. Norway |
42 |
4 |
15 |
7. Poland |
87 |
7 |
16 |
|
8. USA |
34 |
3 |
-6 |
8. Netherlands |
74 |
6 |
-3 |
|
9. Denmark |
31 |
3 |
2 |
9. China |
59 |
4 |
20 |
|
10. Netherlands |
29 |
3 |
47 |
10. United Kingdom |
38 |
3 |
21 |
|
Exports and imports by commodity section, May 2017 |
||||||||
Commodity section (chapter) by Combined Nomenclature (CN) |
Exports |
Imports |
Balance, million euros |
|
||||
million euros |
share, % |
change
compared to same period of previous year, % |
million euros |
share,% |
change
compared to same period of previous year, % |
|
||
TOTAL |
1 152 |
100 |
15 |
1 304 |
100 |
14 |
-153 |
|
Agricultural
products and food preparations (I–IV) |
103 |
9 |
38 |
137 |
11 |
13 |
-34 |
|
Mineral products (V) |
121 |
11 |
76 |
145 |
11 |
63 |
-24 |
|
Raw
materials and products of chemical industry (VI) |
59 |
5 |
19 |
108 |
8 |
18 |
-49 |
|
Articles
of plastics and rubber (VII) |
37 |
3 |
7 |
76 |
6 |
16 |
-39 |
|
Wood and
articles of wood (IX) |
130 |
11 |
22 |
47 |
4 |
16 |
83 |
|
Paper and
articles thereof (X) |
32 |
3 |
18 |
26 |
2 |
16 |
6 |
|
Textiles
and textile articles (XI) |
33 |
3 |
8 |
56 |
4 |
6 |
-22 |
|
Base
metals and articles of base metal (XV) |
85 |
7 |
7 |
119 |
9 |
21 |
-34 |
|
Mechanical appliances (84) |
97 |
8 |
41 |
136 |
10 |
9 |
-39 |
|
Electrical equipment (85) |
198 |
17 |
-18 |
196 |
15 |
-5 |
3 |
|
Transport equipment (XVII) |
81 |
7 |
24 |
138 |
11 |
6 |
-57 |
|
Optical,
measuring, precision instruments (XVIII) |
37 |
3 |
15 |
30 |
2 |
7 |
8 |
|
Miscellaneous manufactured articles (XX) |
98 |
9 |
14 |
34 |
3 |
12 |
63 |
|
Other |
40 |
4 |
18 |
58 |
4 |
27 |
-18 |
|
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 June 2017, and on the customs declaration
data of the Estonian Tax and Customs Board, which were sent to Statistics
Estonia on 20 June 2017. Statistics Estonia published the monthly summary of
foreign trade in 12 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.