Last year Estonia’s exports of goods were record high

news release no 18

According to the preliminary data of Statistics Estonia, in 2010 exports of goods from Estonia amounted to 8.75 billion euros at current prices and imports to Estonia made up 9.27 billion euros. Last year exports of goods exceeded the highest level so far (the level of 2008) where the turnover of exports amounted to 8.47 billion euros.

In 2010 compared to 2009, exports from Estonia increased 35% (by 2.27 billion euros) and imports to Estonia 27% (by 1.99 billion euros). Estonia’s trade deficit amounted to 0.52 billion euros, which per year has never been as small before.

In 2010 the value of goods exported from Estonia to the European Union (EU27) countries was 5.99 billion euros, accounting for 69% of Estonia’s total exports. Compared to 2009, exports to the EU27 countries increased by 33%. Exports to non-EU countries or the so-called third countries increased 39%.

Imports from the European Union (EU27) countries to Estonia totalled 7.4 billion euros with the share of 80% of Estonia’s total imports in 2010. Compared to 2009, imports from the EU countries increased by 26%. Imports from the third countries increased 31%.

In 2010, the foreign trade deficit with the European Union countries amounted to 1.4 billion euros (1.34 billion euros in 2009). At the same time, in 2010, the positive balance of 0.88 billion euros was announced with other countries than the EU.

In December 2010, exports of goods totalled 927 million euros or by 67% more than in December 2009. Imports to Estonia amounted to 934 million euros or by 44% more. The growth in exports in December was also influenced by some extraordinary single transactions.

Estonian foreign trade, 1995–2010

Diagram: Estonian foreign trade, 1995–2010

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 February, Statistics Estonia will release a more detailed overview about foreign trade in December 2010 and for the whole year.

Since the data of 2011 (i.e. since 14 March when the data for January 2011 will be published) Statistics Estonia will release the detailed data on the 40th day already.

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.