Analytics, Export, Foreign trade , Good for Business, Statistics
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Friday, 01.11.2024, 00:19
Estonia's trade deficit in January was smallest in 7 years
Estonia’s exports of goods amounted to 1.14 bn euros and
imports to 1.16 bn euros at current prices. The trade deficit was 20 mln
euros, which is the smallest deficit in the last seven years.
The top destination countries of Estonia’s exports were
Finland, Sweden and Latvia. The biggest decrease occurred in exports to the USA
(down by 31 mln euros), Singapore (down by 16 mln euros) and Germany (down by
14 mln euros). Less electrical equipment was exported to the USA and Germany,
and less mineral products to Singapore. Exports increased the most to the
Netherlands (up by 40 mln euros) and Turkey (up by 24 mln euros). More mineral
products were dispatched to the Netherlands and more agricultural products and
food preparations to Turkey.
The biggest exports from Estonia were electrical equipment,
mineral products, and wood and articles of wood. The decline in exports came
mainly from electrical equipment (down by 32 mln euros) and mechanical
appliances (down by 17 mln euros). Exports increased the most for agricultural
products and food preparations (up by 28 mln euros).
Goods of Estonian origin accounted for 72% of the total exports
of goods. Their exports decreased by 2% and re-exports remained at the level of
January 2019. The biggest decline occurred for electrical equipment
(communication equipment), while the exports of agricultural products and food
preparations (wheat) increased the most.
The main countries of consignment were Finland, Latvia and
Germany. Imports decreased the most from Lithuania (down by 41 mln euros),
Sweden (down by 29 mln euros) and Belarus (down by 24 mln euros). Less mineral
products (fuel) were imported from Lithuania and Belarus, and less electrical
equipment (electronic integrated circuits) from Sweden.
The main commodities imported to Estonia were electrical
equipment, agricultural products and food preparations, and mineral products.
The biggest decrease occurred in the imports of mineral products and electrical
equipment.
Exports and imports by commodity section, January 2020 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 1,142 100 -1 1,161 100 -9 -20 Agricultural
products and food preparations (I–IV) 114 10 33 127 11 8 -13 Mineral
products (V) 145 13 -8 127 11 -40 19 Raw
materials and products of chemical industry (VI) 61 5 -2 117 10 1 -56 Articles
of plastics and rubber (VII) 37 3 6 65 6 -1 -28 Wood
and articles of wood (IX) 130 11 -1 41 4 -4 90 Paper
and articles thereof (X) 28 2 -11 23 2 8 5 Textiles
and textile articles (XI) 32 3 -2 53 4 -6 -21 Base
metals and articles of base metal (XV) 90 8 2 115 10 3 -25 Mechanical
appliances (84) 83 7 -17 110 9 -7 -26 Electrical
equipment (85) 167 15 -16 141 12 -22 26 Transport
equipment (XVII) 75 7 10 119 10 -5 -44 Optical,
measuring, precision instruments (XVIII) 38 3 12 30 3 -3 8 Miscellaneous
manufactured articles (XX) 96 9 3 37 3 16 60 Other 47 4 14 59 5 17 -13
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