Analytics, Baltic Export, Estonia, Foreign trade , Good for Business, Markets and Companies

In July 2017, exports from Estonia amounted to 0.9 billion euros and imports to Estonia to 1.1 billion euros at current prices. The trade deficit was 197 million euros (in July 2016, it was 153 million euros).

The top destination countries of Estonia’s exports in July were Finland (15% of Estonia’s total exports), Sweden (14%) and Latvia (10%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; electrical equipment and transport equipment (incl. ships) were the main commodities exported to Sweden; mineral products (incl. electricity) and agricultural products and food preparations were the main commodities exported to Latvia. The biggest increase occurred in exports to Germany (up by 19 million euros), Russia and Turkey (up by 13 million euros to both). In exports to Germany, the exports of electrical equipment (incl. communication equipment), to Russia, the exports of mechanical appliances and to Turkey, the exports of metal waste increased. The biggest decrease occurred in exports to the Netherlands (down by 12 million euros), where less mineral products (incl. shale oil) were exported.

The biggest share in exports was held by electrical equipment, followed by wood and articles of wood, agricultural products and food preparations, mineral products and mechanical appliances. The greatest increase was in the exports of raw materials and products of chemical industry (up by 16 million euros), wood and articles of wood (up by 13 million euros), and transport equipment (up by 12 million euros). At the same time, the exports of electrical equipment and mineral products decreased.

The share of goods of Estonian origin in total exports was 71% in July. The rise in the exports of goods of Estonian origin was affected the most by an increase in the exports of raw materials and products of chemical industry (incl. caulking compounds, other mastics), wood and articles of wood (incl. coniferous saw-timber) and mechanical appliances (incl. conveyors).

The main countries of consignment in July 2017 were Finland (13% of Estonia’s total imports), Germany (11%) and Lithuania (9%). The main commodities imported were electrical equipment and mineral products (incl. motor spirits, electricity) from Finland; mechanical appliances and transport equipment from Germany; mineral products and agricultural products and food preparations from Lithuania. The biggest increase occurred in imports from Poland (up by 17 million euros), Finland (up by 12 million euros) and Latvia (up by 11 million euros). In imports from Poland, the imports of transport equipment, and from Finland and Latvia, the imports of base metals and articles of base metal increased. Imports from Hungary decreased the most.

The main commodities imported to Estonia were electrical equipment, transport equipment, and agricultural products and food preparations. The biggest increase was in the imports of base metals and articles of base metal and transport equipment, and the biggest fall occurred in the imports of electrical equipment.

In July 2017, the foreign trade export volume index increased by 3% and the import volume index by 10% compared to the same period of the previous year.

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 August 2017, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 21 August 2017. Statistics Estonia published the monthly summary of foreign trade in 14 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.