In August trade increased significantly

news release no 134

According to Statistics Estonia, in August 2010, compared to August of the previous year exports of goods at current prices grew by 37% and imports by 34%. The growth of the turnover of exports and imports was faster only in May this year.

In August exports of goods from Estonia amounted to 11.1 billion kroons (711 million euros) and imports to Estonia totalled 12.2 billion kroons (782 million euros). Exports of goods increased by 3 billion kroons (192 million euros) and imports by 3.1 billion kroons (200 million euros) compared to August of the previous year. Trade growth rate was bigger only in May this year when exports grew by 39% and imports by 46% compared to the same month of the previous year.

The trade deficit amounted to 1.1 billion kroons (71 million euros) in August. The trade deficit increased slightly compared to August of the previous year.

The value of goods exported from Estonia to the European Union (EU) countries amounted to 7.5 billion kroons (479 million euros) accounting for 67% of Estonia’s total exports. Exports to the EU countries increased by 36% compared to August of the previous year. Exports to non-EU countries or the so-called third countries increased by 40%.

Imports from the EU countries to Estonia totalled 10 billion kroons (641 million euros) with the share of 82% of Estonia’s total imports. Imports from the EU countries increased by 38% compared to August of the previous year. Imports from the so-called third countries increased by 19%.

The trade deficit with the EU countries amounted to 2.5 billion kroons (162 million euros). The surplus of 1.4 billion kroons (91 million euros) was announced in the trade with the third countries.

In August compared to July 2010, exports grew by 2% and imports by 6%.

Estonian foreign trade, January 2009 – August 2010

Diagram: Estonian foreign trade, January 2009 – August 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 25th of October, Statistics Estonia will release a more detailed overview about foreign trade in August. The trade data in euros have been published in the Statistical Database.

For further information:

Riina Kerner
Analyst
Foreign Trade Statistics Service
Statistics Estonia
Tel +372 625 9377

More detailed data have been published in the Statistical Database.