Record high trade in Estonia in the previous year

news release no 27

According to Statistics Estonia, in 2011 the exports of goods from Estonia at current prices totalled 12 billion euros and imports 12.6 billion euros. The annual increase was record big – exports increased by 38% and imports by 37% compared to the previous year.

In 2011, in exports, the first place was held by machinery and equipment (27% of Estonia’s total exports), followed by mineral products incl. motor spirits, fuel oils and electricity (17%) and metals and products thereof (9%). The turnover of all commodity sections increased compared to 2010. The growth in Estonia’s exports was mostly influenced by the dispatches of machinery and equipment (growth rate 67% or 1.3 billion euros). There was an increase also in dispatches of mineral products (by 51% or 0.7 billion euros).

In 2011, in imports, the first place was also held by machinery and equipment (27% of the total imports), followed by mineral products (18%) and agricultural products and food preparations (10%). The turnover of imports increased also among all commodity sections. As of exports, imports were also influenced the most by machinery and equipment with the increase of 1.3 billion euros or by 58% compared to 2010. The arrivals of mineral products also increased significantly (by 41% or 0.7 billion euros).

In 2011, the main countries of destination were Sweden (16% of Estonia’s total exports), Finland (15%) and Russia (11%). Exports increased to all main countries of destination, the most to Sweden and Russia (by 0.5 billion euros both). Electrical equipment, wood and articles of wood and furniture were mainly exported to Sweden and Finland, and mechanical and electrical equipment and beverages and spirits to Russia.

The main countries of consignment were Finland (13% of Estonia’s total imports), Latvia and Sweden (11% both). In 2011 compared to 2010, imports was mostly influenced by the increase in arrivals from Latvia and Sweden (by 0.3 billion euros both). Electrical equipment and fuels were mostly imported from Finland and Latvia, electrical equipment and vehicles from Sweden.

In 2011, Estonia’s trade deficit amounted to 0.6 billion euros (0.5 billion euros in 2010). But, trade surplus was registered in Estonia’s trade with the three main export destination countries (Sweden, Finland and Russia), as exports to those countries exceeded imports. The biggest surplus was registered in trade with Sweden (0.5 billion euros).

In December 2011, the value of exports of goods was 948 million euros and of imports 990 million euros. Exports increased by 2% and imports 6% compared to December 2010. Compared to November 2011, exports decreased by 12% and imports by 10%. The monthly decline in exports was mainly caused by the decrease in dispatches of metals and products thereof, the decline in imports by the decrease of arrivals of raw materials and products of chemical industry as well as metals and products thereof.

Export prices rose by 10% and import prices by 11% in 2011 compared to 2010.

Estonia’s trade, 2004–2011

Diagram: Estonia’s trade, 2004–2011

Estonia’s foreign trade, January–December, 2010–2011
Month Exports, million euros Imports, million euros Balance, million euros
2010 2011 change, % 2010 2011 change, % 2010 2011
Total 8 747.8 12 040.3 38 9 250.4 12 628.9 37 -502.6 -588.6
January 520.0 817.8 57 544.9 898.0 65 -24.9 -80.2
February 628.4 837.4 33 609.8 889.4 46 18.6 -52
March 627.6 1 078.8 72 804.0 1 170.1 46 -176.4 -91.3
April 679.8 1 099.7 62 699.2 1 164.0 66 -19.4 -64.3
May 729.8 1 121.8 54 793.9 1 144.6 44 -64.1 -22.8
June 662.6 955.1 44 756.7 999.9 32 -94.1 -44.8
July 695.4 935.9 35 732.9 1 007.7 37 -37.5 -71.8
August 712.7 1 033.3 45 767.1 1 088.7 42 -54.4 -55.4
September 844.8 1 095.5 30 851.2 1 098.8 29 -6.4 -3.3
October 845.8 1 044.8 24 855.0 1 071.5 25 -9.2 -26.7
November 868.2 1 072.0 23 904.7 1 105.9 22 -36.5 -33.9
December 932.8 948.3 2 931.1 990.2 6 1.7 -41.9

Main foreign trade partners of Estonia, 2011
Groups of countries,
countries of
destination
Exports Groups of countries,
countries of
consignment
Imports
million
euros
share,
%
change compared to
previous year, %
million
euros
share,
%
change compared to
previous year, %
Total 12 040.3 100 38 Total 12 628.9 100 37
EU27 7 971.1 66 33 EU27 9 901.7 78 34
EA17 3 608.2 30 33 EA17 4 336.6 34 24
CIS 1 596.9 13 40 CIS 1 375.9 11 37
1. Sweden 1 881.5 16 38 1. Finland 1 584.7 13 15
2. Finland 1 810.4 15 22 2. Latvia 1 360.3 11 34
3. Russia 1 325.4 11 57 3. Sweden 1 336.2 11 32
4. Latvia 957.4 8 23 4. Germany 1 287.2 10 23
5. USA 751.0 6 127 5. Russia 1 044.2 8 37
6. Lithuania 555.0 5 27 6. Lithuania 1 032.8 8 43
7. Germany 545.6 5 20 7. Poland 852.4 7 45
8. Nigeria 391.5 3 137 8. China 454.7 4 61
9. Norway 362.0 3 21 9. Netherlands 450.9 4 46
10. Netherlands 333.2 3 64 10. United Kingdom 436.1 3 132

Exports and imports by commodity sections, 2011
Commodity section by
Combined Nomenclature (CN)
Exports Imports Balance
million
euros
share,
%
change compared to
previous year, %
million
euros
share,
%
change compared to
previous year, %
million
euros
TOTAL 12 040.3 100 38 12 628.9 100 37 -588.6
Agricultural products and food preparations (I–IV) 1 013.7 8 22 1 239.5 10 21 -225.8
Mineral products (V) 2 083.1 17 51 2 277.7 18 41 -194.6
Raw materials and products of chemical industry (VI) 563.1 5 42 962.1 8 31 -399.0
Articles of plastics and rubber (VII) 350.5 3 25 612.6 5 17 -262.1
Wood and products thereof (IX) 928.4 8 17 298.3 2 15 630.1
Paper and articles thereof (X) 314.4 3 13 226.9 2 2 87.5
Textiles and products thereof (XI) 344.2 3 15 532.6 4 16 -188.4
Metals and products thereof (XV) 1 036.4 9 31 1 105.7 9 34 -69.3
Machinery and equipment (XVI) 3 305.2 27 67 3 448.6 27 58 -143.4
Transport equipment (XVII) 593.8 5 4 1 031.3 8 57 -437.5
Miscellaneous manufactured articles (XX) 789.2 6 18 231.5 2 12 557.7
Other 718.3 6 50 662.1 5 21 56.2

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. New tables by CN 4-digit codes have also been published.