In April the exports of goods record-breaking

Compared to April of the previous year, the nominal increase of exports was 1.8 billion kroons or by 18%. The increase of the exports was mainly caused by the dispatches of metals and products thereof and of machinery and equipment.

The imports of goods were 15.8 billion kroons, which was 0.2 billion kroons or 2% bigger compared to April 2007. One of the main reasons of the slowdown in the growth of imports was the decrease of imports from Russia by nearly one billion kroons (45%).

Estonia’s foreign trade, January 1998 – April 2008

The trade deficit in April was 3.6 billion kroons. Compared to April 2007, the trade deficit decreased by 1.6 billion kroons — mainly caused by the faster growth of exports than of imports.

In April 2008 the share of the EU countries was 69% and the share of CIS countries accounted for 18% of the total exports (in the previous year 70% and 11%, respectively). Compared to the same month of the previous year, the exports of goods to the EU countries increased by 1.1 billion kroons (15%), and the exports to CIS countries by 0.3 billion kroons (27%). The main countries of destination were Finland, Sweden and Russia.

In total imports the share of the EU countries was 82% and that of CIS countries 13% (in the previous year 77% and 16%, respectively). Imports from the EU countries increased by over a billion kroons (9%), at the same time imports from CIS countries decreased by 0.8 billion kroons or nearly by one third. The biggest increase (0.3 billion kroons) was announced in imports from Lithuania. The most important partners in imports were Finland, Germany and Sweden.

In both exports and imports the most important commodity section was machinery and equipment that accounted for one fifth of the both flows. In exports the nominal increase was the biggest in the exports of metals and products of thereof and of machinery and equipment (both by 0.6 billion kroons). The exports of mineral products and transport equipment decreased. The biggest decline in the imports of goods was in the section of wood and products thereof (by 0.3 billion kroons), accounting for the biggest deficit in foreign trade balance (0.7 billion kroons). The biggest increase in imports was announced in the sections of raw materials and products of chemical industry, machinery and equipment and metals and products thereof.

Main foreign trade partners of Estonia, April 2008

Exports and imports by commodity sections, April 2008