In September imports of goods was the biggest of this year

According to the preliminary data of Statistics Estonia, in September 2009 exports of goods from Estonia amounted to 9.3 billion kroons at current prices and imports to Estonia made up 10.1 billion kroons. This year imports exceeded the level of 10 billion kroons for the first time.

Compared to September of the previous year, the value of exports of goods decreased by 24% (3 billion kroons) and that of imports by a third (5.1 billion kroons). Compared to August 2009 exports increased 20% and imports 8% which was partly caused by the seasonality influenced by the seasons.

In September, the foreign trade deficit amounted to 0.8 billion kroons, which is about four times less compared to September of the previous year (in September 2008 the foreign trade balance was 2.9 billion kroons).

In September the value of goods exported from Estonia to the European Union (EU27) countries was 6.4 billion kroons, accounting for 69% of Estonia’s total exports. Compared to September of the previous year, exports to the EU27 countries decreased by nearly a quarter (by 2 billion kroons). Exports from Estonia to non-EU countries or the so-called third countries amounted to nearly 2.9 billion kroons, which is also by a quarter less compared to September 2008.

In September, imports from the European Union (EU27) countries to Estonia totalled 8 billion kroons with the share of 79% of Estonia’s total imports. Imports from the EU countries decreased by over a third compared to September of the previous year. Imports from other countries than the EU amounted to about 2.1 billion kroons, which is 28% less compared to September of the previous year.

The foreign trade deficit with the European Union countries amounted to 1.6 billion kroons (3.8 billion kroons in September 2008). At the same time, the trade balance with other countries than the EU was slightly on the positive side or exports to these countries exceeded imports by approximately 0.8 billion kroons.

Estonia’s foreign trade, January 2008 – September 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 of the foreign trade for September on the 23rd of November.