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

In February 2018, exports from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.2 billion euros. The trade deficit was 93 million euros (in February 2017, it was 100 million euros).

In February, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports), Sweden (11%) and Latvia (8%). 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 (wood in the rough, doors and windows of coniferous wood) were the main commodities exported to Sweden; and transport equipment (motor cars), agricultural products and food preparations (spirits, beer, wheat) were the main commodities exported to Latvia. The biggest increase occurred in exports to Singapore (up by 28 million euros), Germany (up by 23 million euros) and the United Kingdom (up by 21 million euros). In exports to Singapore and the United Kingdom, the exports of mineral products increased. There was also an increase in the exports of electrical equipment to Germany. The biggest decrease occurred in exports to the Netherlands (down by 20 million euros), where less mineral products were dispatched.

In February, the biggest share in the exports of goods was held by mineral products (16% of the total exports of goods), followed by electrical equipment (15%) and wood and articles of wood (11%). The last time the exports of mineral products surpassed the exports of electrical equipment was in 2011. The greatest increase was in the exports of mineral products (up by 70 million euros), metals and articles of base metal (up by 24 million euros) and mechanical appliances and electrical equipment (both up by 12 million euros). At the same time, the exports of miscellaneous manufactured articles decreased (down by 9 million euros).

The share of goods of Estonian origin in total exports was 74% in February 2018. The exports of goods of Estonian origin grew by 14% and re-exports by 18%. The exports of goods of Estonian origin grew the most in the commodity sections of mineral products (shale oil, fuel additives), metals and articles of base metal (metal waste, metal structures) and agricultural products and food preparations (barley, rape). The exports of miscellaneous manufactured articles decreased (prefabricated wood buildings, lighting fixtures).

The main countries of consignment in February were Finland (13% of Estonia’s total imports), Germany (11%) and Sweden (10%). Electrical equipment and metals and articles of base metal were the main commodities imported from Finland; transport equipment and electrical equipment from Germany and Sweden. The biggest increase occurred in imports from Belarus (up by 30 million euros, i.e. approximately 6 times), Finland (up by 25 million euros) and Latvia (up by 21 million euros). Mineral products were imported more from Belarus (motor spirit, fuel additives), electrical equipment from Finland and metals and articles of base metal from Latvia.

The main commodities imported to Estonia were electrical equipment (14% of the total imports of goods), mineral products (13%) and mechanical appliances (12%). The greatest increase was in the imports of mechanical appliances and mineral products (both up by 32 million euros) and transport equipment (up by 21 million euros).

In February 2018, the foreign trade export volume index increased by 2% and the import volume index by 10% compared to February 2017. 

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 March 2018, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 March 2018. Statistics Estonia published the monthly summary of foreign trade in 13 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.