In February foreign trade deficit decreased significantly

In February exports of goods from Estonia in current prices were 7.9 billion kroons and imports to Estonia accounted for 9 billion kroons. Exports decreased by 2.8 billion kroons or 26% and imports by 4.7 billion kroons or one third compared to February of the previous year.

In February the value of goods exported to the EU countries (EU 27) was 5.4 billion kroons with the share of 68% of total exports. Compared to the same month of the previous year exports to the EU countries decreased by 2.3 billion kroons or nearly by one third. Exports to other countries or the so-called third countries amounted to 2.5 billion kroons and decreased by 0.5 billion kroons or 15% compared to February 2008.

Imports from the European Union (EU 27) countries totalled 7 billion kroons with the share of 78% of Estonian total imports. Imports from EU 27 countries decreased by 4.1 billion kroons or 37%. Imports from other countries than EU 27 accounted for 2 billion kroons and it decreased by 0.6 billion kroons or 23% compared to February of the previous year.

The trade deficit between the EU countries amounted for 1.6 billion kroons (3.4 billion kroons in February of the previous year). At the same time the trade balance with other countries than the EU was positive or exports to those countries exceeded imports by 0.5 billion kroons.

Estonian foreign trade, January 2008 – February 2009

Statistics Estonia releases the first estimates about foreign trade on the 40th day after the end of the reference period which are then revised on the 54th day. Statistics Estonia will release a more detailed overview about foreign trade on the 23rd of April.