Analytics, Estonia, Foreign trade , Good for Business, Statistics
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Friday, 19.04.2024, 11:43
Estonia's exports up 17% on year in June in 2018
In June 2018, exports from Estonia amounted to 1.3 bln euros
and imports to Estonia to 1.4 bln euros at current prices. The trade
deficit was 153 mln euros (in June 2017, it was 114 mln euros).
In June 2018, the top destination countries of Estonia’s
exports were Finland (15% of Estonia’s total exports of goods), Latvia (11%)
and Sweden (10%). Electrical equipment and base metals and articles of base
metal were the main commodities exported to Finland; mineral products (fuel
additives, electricity) and transport equipment (motor cars) were the main
commodities exported to Latvia; electrical equipment and wood and articles of
wood were the main commodities exported to Sweden. The biggest increase
occurred in exports to the USA (up by 52 mln euros), Singapore (up by 42 mln
euros) and Latvia (up by 41 mln euros). In exports to the USA, the exports of
electrical equipment (data communication equipment) increased the most. There
was also an increase in the exports of mineral products to Singapore and
Latvia. The biggest decrease occurred in exports to the Netherlands (down by 22
mln euros).
In June, the biggest share in the exports of goods was held
by electrical equipment and mineral products (both 16% share of the total exports
of goods), followed by wood and articles of wood (11%). The greatest increase
was in the exports of mineral products (up by 77 mln euros) and wood and
articles of wood and electrical equipment (both up by 25 mln euros).
The share of goods of Estonian origin in total exports was
74% in June 2018. The exports of goods of Estonian origin increased by 20% and
re-exports by 7%. Increased exports in the commodity sections of mineral
products (oil, shale oil, fuel additives) and wood and articles of wood
(glue-laminated boards, sawn timber, wooden doors) and miscellaneous
manufactured articles (prefabricated wood buildings) contributed to the
increase in the exports of goods of Estonian origin.
The main countries of consignment in June 2018 were Finland
(13% share of Estonia’s total imports of goods), Lithuania and Germany (both
10%). The main commodities imported were: mineral products and electrical
equipment from Finland, mineral products and raw materials and products of chemical
industry from Lithuania, and transport equipment and mechanical appliances from
Germany. The biggest increase occurred in imports from Russia (up by 57 mln
euros), Belarus (up by 47 mln euros) and Lithuania (up by 33 mln euros),
where the imports of mineral products (motor spirit, fuel additives) increased
the most.
The main commodities imported to Estonia were mineral
products (18% of Estonia’s total imports of goods), electrical equipment (14%)
and transport equipment (11%). The greatest increase was in the imports of
mineral products (up by 153 mln euros), electrical equipment (up by 20 mln
euros) and mechanical appliances (up by 17 mln euros).
In the 2nd quarter of 2018, exports of goods from Estonia
amounted to 3.7 bln euros and imports to Estonia to 4.2 bln euros. The trade
deficit in the 2nd quarter was 536 mln euros (in the 2nd quarter of 2017, it
was 452 mln euros).
In the 2nd quarter of 2018, the growth in exports compared
to the same period of the previous year was supported by increased exports of
mineral products (up by 181 mln euros), wood and articles of wood (up by 57 mln
euros), transport equipment (up by 37 mln euros), and miscellaneous
manufactured articles (up by 36 mln euros). In the comparison of countries,
exports have increased the most to the USA (up by 108 mln euros), Latvia (up by
101 mln euros) and Finland (up by 69 mln euros). At the same time, exports to
Sweden have decreased the most (down by 58 mln euros).
In the 2nd quarter of 2018 compared to the 2nd quarter of 2017, the growth in imports was significantly affected by an increase in the imports of mineral products (up by 296 mln euros), electrical equipment (up by 68 mln euros) and mechanical appliances (up by 59 mln euros). By country, imports grew the most from Belarus (up by 125 mln euros), Sweden (up by 111 mln euros) and Russia (up by 92 mln euros).
Month | Exports, million euros | Imports, million euros | Balance, million euros | |||||
---|---|---|---|---|---|---|---|---|
2017 | 2018 | change, % | 2017 | 2018 | change, % | 2017 | 2018 | |
First half-year | 6,350 | 6,987 | 10 | 7,453 | 8,054 | 8 | -1,104 | -1,067 |
I quarter | 3,090 | 3,288 | 6 | 3,742 | 3,820 | 2 | -652 | -531 |
January | 940 | 1,029 | 10 | 1,350 | 1,250 | -7 | -410 | -221 |
February | 972 | 1,117 | 15 | 1,072 | 1,205 | 12 | -100 | -88 |
March | 1,179 | 1,142 | -3 | 1,321 | 1,365 | 3 | -142 | -222 |
II quarter | 3,259 | 3,699 | 13 | 3,711 | 4,235 | 14 | -452 | -536 |
April | 1,027 | 1,192 | 16 | 1,212 | 1,365 | 13 | -185 | -172 |
May | 1,148 | 1,241 | 8 | 1,300 | 1,451 | 12 | -153 | -210 |
June | 1,085 | 1,266 | 17 | 1,199 | 1,419 | 18 | -114 | -153 |
Country of destination, group of countries | Exports, million euros | Share, % | Change on same month of previous year, % | Country of consignment, group of countries | Imports, million euros | Share, % | Change on same month of previous year, % |
---|---|---|---|---|---|---|---|
TOTAL | 1,266 | 100 | 17 | TOTAL | 1,419 | 100 | 18 |
EU-28 | 866 | 68 | 11 | EU-28 | 1,100 | 78 | 10 |
Euro area 19 | 615 | 49 | 14 | Euro area 19 | 774 | 55 | 7 |
Non-EU | 400 | 32 | 33 | Non-EU | 319 | 22 | 60 |
1. Finland | 192 | 15 | 12 | 1. Finland | 180 | 13 | 17 |
2. Latvia | 143 | 11 | 40 | 2. Lithuania | 146 | 10 | 29 |
3. Sweden | 129 | 10 | -13 | 3. Germany | 141 | 10 | 12 |
4. Germany | 82 | 6 | 15 | 4. Sweden | 127 | 9 | 15 |
5. USA | 76 | 6 | - | 5. Russia | 117 | 8 | 95 |
6. Russia | 72 | 6 | -19 | 6. Latvia | 103 | 7 | 5 |
7. Norway | 64 | 5 | 56 | 7. Poland | 85 | 6 | 0 |
8. Lithuania | 64 | 5 | 3 | 8. Netherlands | 69 | 5 | -8 |
9. Singapore | 43 | 3 | - | 9. Belarus | 54 | 4 | - |
10. Denmark | 40 | 3 | 60 | 10. United Kingdom | 47 | 3 | 54 |
Commodity section (chapter) by Combined Nomenclature (CN) | Exports | Imports | Balance, million euros | ||||
---|---|---|---|---|---|---|---|
million euros | share, % | change on same period of previous year, % | million euros | share, % | change on same period of previous year, % | ||
TOTAL | 1,266 | 100 | 17 | 1,419 | 100 | 18 | -153 |
Agricultural products and food preparations (I–IV) | 93 | 7 | 2 | 131 | 9 | -6 | -38 |
Mineral products (V) | 202 | 16 | 62 | 248 | 18 | - | -46 |
Raw materials and products of chemical industry (VI) | 65 | 5 | 19 | 116 | 8 | 13 | -51 |
Articles of plastics and rubber (VII) | 39 | 3 | 8 | 72 | 5 | 6 | -34 |
Wood and articles of wood (IX) | 138 | 11 | 22 | 49 | 3 | 22 | 89 |
Paper and articles thereof (X) | 28 | 2 | -5 | 25 | 2 | 4 | 3 |
Textiles and textile articles (XI) | 32 | 3 | -4 | 52 | 4 | 4 | -21 |
Base metals and articles of base metal (XV) | 105 | 8 | 19 | 130 | 9 | 10 | -25 |
Mechanical appliances (84) | 97 | 8 | 1 | 141 | 10 | 14 | -45 |
Electrical equipment (85) | 205 | 16 | 14 | 195 | 14 | 12 | 10 |
Transport equipment (XVII) | 82 | 6 | 10 | 151 | 11 | 5 | -68 |
Optical, measuring, precision instruments (XVIII) | 34 | 3 | -10 | 31 | 2 | -1 | 3 |
Miscellaneous manufactured articles (XX) | 112 | 9 | 21 | 33 | 2 | 0 | 79 |
Other | 35 | 3 | 2 | 46 | 3 | -17 | -11 |