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

Over the nine months of 2014, exports and imports declined by 3% compared to the same period of 2013.

In September, exports from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.2 billion euros at current prices. In September, the monthly turnover of trade was the highest of  this year. The trade deficit was 140 million euros and it increased by 26.8 million euros compared to September 2013.

The biggest share in Estonia’s exports was held by electrical equipment (24% of Estonia’s total exports), followed by mineral products (9%), wood and products thereof (9%) and agricultural products and food preparations (9%). The increase in exports compared to September 2013 was due to the significant increase in the exports of electrical equipment (up by 86 million euros), raw materials and products of chemical industry (up by 19 million euros), and metals and products thereof (up by 8 million euros). The biggest decrease occurred in the exports of agricultural products and food preparations (down by 14 million euros).

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

In September, the main commodities imported were electrical equipment (22% of Estonia’s total imports), mineral products (12%) and agricultural products and food preparations (10%). Compared to September 2013, the biggest increase occurred in the imports of electrical equipment (up by 76 million euros), mineral products (up by 32 million euros) and raw materials and products of chemical industry (up by 26 million euros). At the same time, the imports of mechanical appliances decreased the most (down by 22 million euros).

The top destination country of Estonia’s exports in September was Sweden (21% of Estonia’s total exports), followed by Finland (15%) and Russia (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; raw materials and products of chemical industry and mechanical appliances were the main commodities exported to Russia. The biggest increase occurred in exports to Sweden (up by 69 million euros), to the USA (up by 10 million euros) and to Germany (up by 7.6 million euros). In exports to Sweden and the USA, the increase was the highest in the dispatches of electrical equipment and mineral products. In exports to Germany, the dispatches of agricultural products and food preparations and furniture increased. Compared to September 2013, the decrease was the biggest in the exports of mineral products to the United Kingdom.

The main countries of consignment in September were Finland (16% of Estonia’s total imports), Sweden (13%) and Germany (11%). The main commodities imported were mineral products and electrical equipment from Finland, electrical equipment and transport equipment from Sweden, and mechanical appliances and transport equipment from Germany. Compared to September 2013, there was a increase in imports from Sweden (up by 37 million euros), from Finland (up by 33 million euros) and from Russia (up by 24 million euros). There were increased imports of electrical equipment from Sweden, and  increased imports of mineral products from Finland and Russia. The decrease was the biggest in the imports of mechanical appliances from the United Kingdom.

In September compared to August 2014, exports increased by 14% and imports by 17%. During the nine months of 2014 compared to the same period of 2013, Estonia’s trade declined by 3%. In the same period, export and import prices also fell 2%.

Main foreign trade partners of Estonia, September 2014

Exports and imports by commodity sections, September 2014