Analytics, Baltic Export, Baltic States – CIS, Estonia, EU – Baltic States, Foreign trade , Good for Business

In July, exports from Estonia amounted to nearly 1 billion euros and imports to Estonia to 1.1 billion euros at current prices. The trade deficit was 148 million euros and it decreased by 50 million euros compared to July 2013.

The biggest share in Estonia’s exports was held by electrical equipment (23% of Estonia’s total exports), followed by mineral products (13%) and agricultural products and food preparations (9%). A significant increase occurred in the exports of mineral products (up by 36 million euros), electrical equipment (up by 21 million euros) and metals and products thereof (up by 13 million euros). The biggest decrease occurred in the exports of textiles and products thereof.

In July, the main commodities imported were electrical equipment (a fifth of Estonia’s total imports), mineral products (13%) and agricultural products and food preparations (11%). The biggest increase occurred in the imports of electrical equipment and mineral products (up by 25 and 13 million euros, respectively). At the same time, the imports of transport equipment and mechanical appliances decreased the most.

The top destination country of Estonia’s exports in July was Sweden (16% of Estonia’s total exports), followed by Finland (15%) and Latvia (12%). Electrical equipment and wood and products thereof were the main commodities exported to Sweden; electrical equipment and metals and products thereof were the main commodities exported to Finland; mineral products and agricultural products and food preparations were the main commodities exported to Latvia.  The biggest increase occurred in exports to the USA (up by 34 million euros or 2.8 times), to Latvia (up by 14 million euros) and the Netherlands (up by 12 million euros). In exports to the USA, the increase was the highest in the dispatches of mineral products (incl. motor spirits and fuel oils) and electrical equipment (incl. electrical transformers, static converters), but to Latvia and the Netherlands in the exports of mineral products (incl. oils). The decline was the biggest in exports to Russia (down by 24 million euros). Exports to Russia decreased due to reduced exports of agricultural products and food preparations (incl. cheese, spirits) and mechanical appliances (incl. bulldozers, excavators, shovel loaders).

The main countries of consignment in July were Finland (14% of Estonia’s total imports), Germany (12%) and Sweden (11%). The main commodities imported were mineral products and electrical equipment (from Finland), mechanical appliances and mineral products (from Germany) and electrical and transport equipment (from Sweden).

Compared to July 2013, there was an increase in imports from Germany, Finland and Russia (each up by 10 million euros). There were increased imports of mineral products (incl. motor spirits) from Germany, increased imports of mineral products (incl. motor spirits) and electrical equipment (incl. telecommunication equipment) from Finland, and increased imports of mineral products (incl. motor spirits) and metals and products thereof (incl. flat-rolled products) from Russia. Imports from Poland (down by 24 million euros) and the United Kingdom (down by 13 million euros) decreased the most. In imports from Poland the decrease was the highest in the arrivals of transport equipment, and from the United Kingdom in the arrivals of mechanical appliances.

In July compared to June 2014, exports increased 1% and imports remained on the same level.

Estonia’s foreign trade, January – July, 2013–2014

Main foreign trade partners of Estonia, July 2014

Exports and imports by commodity sections, July 2014