In July exports of goods increased significantly

In July exports of goods from Estonia amounted to 10.9 billion kroons (697 million euros) and imports to Estonia totalled 11.6 billion kroons (744 million euros). Exports of goods increased by 2.7 billion kroons (170 million euros) and imports by 2.2 billion kroons (142 million euros) compared to July of the previous year. Due to a faster growth in exports compared to imports, the foreign trade deficit decreased. The trade deficit amounted to 0.7 billion kroons (47 million euros) in July. The trade deficit was nearly two times smaller compared to July of the previous year.

The value of goods exported from Estonia to the European Union (EU) countries amounted to 7.1 billion kroons (451 million euros) accounting for 65% of Estonia’s total exports. Exports to the EU countries increased by 23% compared to July of the previous year. Exports to non-EU countries or the so-called third countries increased by 52%.

Imports from the EU countries to Estonia totalled 9.5 billion kroons (606 million euros) with the share of 81% of Estonia’s total imports. Imports from the EU countries increased by 20% compared to July of the previous year. Imports from the so-called third countries increased by 44%.

The trade deficit with the EU countries amounted to 2.4 billion kroons (155 million euros). The surplus of 1.7 billion kroons (108 million euros) was announced in the trade with the third countries.

In July compared to June 2010, exports grew by 7%, imports declined by 3%.

Estonian foreign trade, January 2009 – July 2010

Statistics Estonia releases the first estimates about foreign trade on the 40th day after the end of the reference period. The estimates are revised on the 54th day. On the 23rd of September, Statistics Estonia will release a more detailed overview about foreign trade in July. The trade data in euros have been published in the Statistical Database.