Analytics, Estonia, Foreign trade , Statistics

In July, exports from Estonia amounted to 1.2 bn euros and imports to Estonia to 1.4 bn euros at current prices. The exports of mineral products (shale oil, motor spirit, fuel additives) decreased by nearly half, but the decline was offset by increased exports in other commodity groups. The trade deficit was 211 mln euros, which was 88 mln euros more than in the same period last year.

In July, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports), Latvia (10%) and Sweden (9%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; mineral products (fuel additives, electricity), agricultural products and food preparations (milk, beer) to Latvia; miscellaneous manufactured articles (prefabricated wood buildings) and wood and articles of wood (pulpwood, sawn timber) to Sweden. The biggest decrease occurred in exports of mineral products to Saudi Arabia (down by 46 mln euros). The biggest increase occurred in exports to Lithuania (up by 22 mln euros), Denmark (up by 19 mln euros) and Latvia (up by 16 mln euros). The biggest increase in exports to Lithuania was in transport equipment (cars); and to Denmark and Latvia in exports of mineral products.

The biggest share in exports of goods was held by electrical equipment (15% of Estonia’s total exports), followed by mineral products (12%) and mechanical appliances (10%). The biggest impact on the decline in exports came from mineral products (down by 125 mln euros). The biggest increases were in exports of transport equipment (up by 26 mln euros) and mechanical appliances (up by 26 mln euros).

The exports of goods of Estonian origin decreased by 10% compared to July 2018, while re-exports increased by 16%. In the exports of goods of Estonian origin, the biggest decrease was in the exports of mineral products and the biggest increase was in mechanical appliances and miscellaneous manufactured articles.

In July, the main countries of consignment were Finland (13% of Estonia’s total imports), Germany (11%), Lithuania and Russia (both 10%). The main commodities imported were: mineral products and base metals, and articles of base metal from Finland; transport equipment and mechanical appliances from Germany; mineral products, agricultural products and food preparations from Lithuania; and mineral products from Russia. Imports increased the most from Russia (up by 25 mln euros), Sweden (up by 22 mln euros) and from Finland (up by 20 mln euros). From Russia, imports of mechanical appliances, from Sweden of transport equipment, and from Finland of mineral products increased the most. Imports decreased the most from Belarus (down by 28 mln euros), due to a decrease in the imports of mineral products (motor spirit, heavy oil).

The main commodities imported to Estonia were mineral products (13% of Estonia’s total imports), transport equipment and electrical equipment (both 12%). The biggest increase was in the imports of transport equipment, and base metals and articles of base metal (both up by 27 mln euros) and the biggest decrease in the imports of mineral products (down by 22 mln euros).