Exports exceeded imports in February

news release no 51

According to the preliminary data of Statistics Estonia, the surplus in trade was registered in February, when exports of goods exceeded imports by 0.2 billion kroons. The surplus was last registered in trade in June 1993.

In February exports of goods from Estonia in current prices were 9.7 billion kroons and imports to Estonia accounted for 9.5 billion kroons. Compared to February of the previous year, exports increased by 1.9 billion kroons or 24% and imports by 0.8 billion kroons or 9%. Faster growth in exports compared to imports changed the trade balance to positive.

In February the value of goods exported to the EU countries (EU 27) was 6.3 billion kroons with the share of 65% of total exports of Estonia. Compared to the same month of the previous year, exports to the EU countries increased by 18%. Exports to other countries or the so-called third countries amounted to 3.5 billion kroons and increased by 38% compared to February 2009.

Imports from the European Union (EU 27) countries totalled 7.3 billion kroons with the share of 77% of Estonian total imports. Compared to February of the previous year, imports from EU 27 countries increased by 8%. Imports from other countries than EU 27 accounted for 2.2 billion kroons and it increased by 11% compared to February of the previous year.

The trade deficit between the EU countries amounted to 1.1 billion kroons (1.5 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 1.3 billion kroons.

Estonian foreign trade, January 2009 – February 2010

Diagram: Estonian foreign trade, January 2009 – February 2010

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 for February on the 23rd of April.

For further information:

Allan Aron
Head of the Foreign Trade Statistics Service
Statistics Estonia
Tel +372 625 9325

More detailed data have been published in the Statistical Database.