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Tuesday 23.07.2019 | Name days: Magda, Magone, Mērija
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Estonian exports up 12% on year, January trade deficit drops to EUR 119 mln

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Estonian exports of goods have from January 2018 to January 2019 surged by 12%, while imports have also increased, reaching a 2%-increase, Statistics Estonia estimated.

According to a Monday, March 11, press release by Statistics Estonia, in January, exports from Estonia amounted to 1.16 billion euros and imports to Estonia to 1.28 billion euros. The trade deficit was 119 million euros, which was 99 million euros less than in the same period last year.

In January, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports), Sweden and Latvia (both 10%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; wood and articles of wood and electrical equipment to Sweden; mineral products, and agricultural products and food preparations to Latvia.

The official statistics body of Estonia wrote that the biggest increase occurred in exports to the USA (up by 66 million euros), Singapore (up by 30 million euros) and Denmark (up by 18 million euros). In exports to the USA, there was an increase in the exports of data communication equipment, and to Singapore and Denmark, in the exports of mineral products. The biggest decrease occurred in exports to the Netherlands (down by 34 million euros), where less mineral products were dispatched.

The biggest share in exports was held by electrical equipment (17% of Estonia’s total exports), followed by mineral products (14%), and wood and articles of wood (11%). The greatest increase was in the exports of mineral products (up by 37 million euros), electrical equipment (up by 25 million euros), mechanical appliances and wood and articles of wood (both up by 19 million euros).

Finnish imports lead

The main countries of consignment in January were Finland (12% of Estonia’s total imports), Lithuania (11%) and Germany (10%). Mineral products and electrical equipment were the main commodities imported from Finland, while from Lithuania, these were mineral products, and from Germany, transport equipment and mechanical appliances.

Imports increased the most from Lithuania (up by 47 million euros) and China (up by 13 million euros).


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