Both in June and throughout the 2nd quarter, trade increased

news release no 86

According to Statistics Estonia, in June 2017, the exports of goods increased by 11% and imports by 6% compared to June 2016. In the second quarter, compared to the 2nd quarter of the previous year, exports grew 8% and imports 7%.

In June 2017, exports from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.2 billion euros at current prices. The trade deficit was 123 million euros (in June 2016, it was 156 million euros).

The top destination countries of Estonia’s exports in June were Finland (16% of Estonia’s total exports), Sweden (14%) and Latvia (9%). The biggest increase occurred in exports to the Netherlands (up by 34 million euros), Russia (up by 29 million euros) and Germany (up by 21 million euros). In exports to the Netherlands, the exports of mineral products (incl. shale oil), to Russia, the exports of mechanical appliances and to Germany, the exports of electrical equipment (incl. communication equipment) and metal waste increased. The biggest decrease occurred in exports to Sweden (down by 30 million euros), where less electrical equipment was exported.

The biggest share in exports was held by electrical equipment, followed by mineral products, and wood and articles of wood. The greatest increase was in the exports of mineral products (up by 51 million euros), mechanical appliances (up by 25 million euros), and wood and articles of wood (up by 22 million euros). At the same time, the exports of electrical equipment decreased (down by 48 million euros).

The share of goods of Estonian origin in total exports was 72% in June. In June 2017, the exports of goods of Estonian origin increased 8% and re-exports 18%. The rise in the exports of goods of Estonian origin was affected the most by an increase in the exports of mineral products (incl. shale oil, electricity) and wood and articles of wood (incl. coniferous saw-timber, wooden windows and doors).

The main countries of consignment in June 2017 were Finland (13% of Estonia’s total imports), Germany (11%), Lithuania (9%) and Sweden (9%). The biggest increase occurred in imports from Sweden (up by 28 million euros), Latvia, the Netherlands and France (all up by 10 million euros). Imports from Hungary decreased the most.

The main commodities imported to Estonia were electrical equipment, transport equipment, and agricultural products and food preparations. The biggest increase was in the imports of transport equipment and base metals and articles of base metal, and the biggest fall occurred in the imports of electrical equipment.

In the 2nd quarter of 2017, exports of goods from Estonia amounted to 3.3 billion euros and imports to Estonia to 3.7 billion euros. The trade deficit in the 2nd quarter was 447 million euros (in the 2nd quarter of 2016, it was 460 million euros). In the first half-year, exports of goods increased by 10% and imports by 11% compared to the same period of the previous year.

In the 2nd quarter of 2017, the growth in exports compared to the same period of the previous year was supported by increased exports of mineral products (up by 141 million euros), wood and articles of wood (up by 47 million euros), and base metals and articles of base metal (up by 37 million euros), which also compensated for the decline in the exports of electrical equipment (down by 83 million euros). In the comparison by countries, exports have increased the most to Russia, the Netherlands and Germany. At the same time, exports to Sweden have decreased the most.

In the 2nd quarter, the growth in imports was significantly affected by an increase in the imports of transport equipment (up by 101 million euros), mineral products (up by 70 million euros) and raw materials and products of chemical industry (up by 45 million euros). The imports of electrical equipment decreased significantly (down by 73 million euros). By countries, imports in the 2nd quarter of 2017 compared to the 2nd quarter of 2016 grew the most from Russia, Sweden and Turkey. Imports from Hungary decreased the most.

Estonia’s foreign trade by month, 2016–2017
Month Exports, million euros Imports, million euros Balance, million euros
2016 2017 change, % 2016 2017 change, % 2016 2017
1st half year 5,799.8 6,379.2 10 6,708.2 7,459.9 11 -908.4 -1,080.7
January 823.7 942.9 14 978.9 1,351.2 38 -155.2 -408.3
February 918.9 974.3 6 1,058.4 1,073.7 1 -139.5 -99.4
March 1,033.0 1,190.7 15 1,186.3 1,316.8 11 -153.3 -126.1
1st quarter 2,775.6 3,107.8 12 3,223.6 3,741.7 16 -448.0 -633.8
April 1,048.4 1,032.1 -2 1,206.0 1,211.1 0 -157.6 -179.0
May 998.5 1,158.3 16 1,145.3 1,303.3 14 -146.7 -145.1
June 977.3 1,081.0 11 1,133.3 1,203.8 6 -156.1 -122.8
2nd quarter 3,024.2 3,271.4 8 3,484.6 3,718.3 7 -460.4 -446.8
Main foreign trade partners of Estonia, June 2017
Country of destination,
group of countries
Exports,
million euros
Share,
%
Change compared to
same month of
previous year, %
Country of consignment,
group of countries
Imports,
million euros
Share,
%
Change compared to
same month of
previous year, %
TOTAL 1,081.0 100 11 TOTAL 1,203.8 100 6
EU-28 778.1 72 9 EU-28 1,005.5 84 6
Euro area 19 533.3 49 18 Euro area 19 726.2 60 9
Non-EU 302.9 28 16 Non-EU 198.3 16 5
1. Finland 170.6 16 7 1. Finland 151.3 13 0
2. Sweden 149.9 14 -17 2. Germany 128.2 11 3
3. Latvia 94.6 9 7 3. Lithuania 114.3 9 5
4. Russia 89.6 8 47 4. Sweden 113.9 9 32
5. Germany 71.5 7 41 5. Latvia 98.0 8 11
6. Lithuania 64.5 6 12 6. Poland 80.6 7 2
7. Netherlands 54.3 5 - 7. Netherlands 73.4 6 15
8. Norway 41.5 4 -11 8. Russia 60.1 5 9
9. Poland 25.8 2 24 9. China 46.7 4 0
10. USA 24.6 2 -6 10. French 38.6 3 36
Exports and imports by commodity section, June 2017
Commodity section (chapter)
by Combined Nomenclature (CN)
Exports Imports Balance,
million euros
million
euros
share,
%
change compared to
same period of
previous year, %
million
euros
share,
%
change compared to
same period of
previous year, %
TOTAL 1,081.0 100 11 1,203.8 100 6 -122.8
Agricultural products and food preparations (I–IV) 90.5 8 8 138.1 11 8 -47.6
Mineral products (V) 120.2 11 73 95.6 8 1 24.6
Raw materials and products of chemical industry (VI) 57.1 5 23 103.9 9 11 -46.8
Articles of plastics and rubber (VII) 35.8 3 7 71.1 6 16 -35.3
Wood and articles of wood (IX) 113.2 11 24 41.7 3 16 71.6
Paper and articles thereof (X) 30.2 3 14 24.5 2 7 5.7
Textiles and textile articles (XI) 32.7 3 16 50.8 4 2 -18.0
Base metals and articles of base metal (XV) 87.1 8 11 118.1 10 17 -31.0
Mechanical appliances (84) 95.4 9 35 124.7 10 11 -29.3
Electrical equipment (85) 181.8 17 -21 172.3 14 -18 9.5
Transport equipment (XVII) 72.2 7 17 141.2 12 19 -69.0
Optical, measuring, precision instruments (XVIII) 36.2 3 5 31.4 3 17 4.9
Miscellaneous manufactured articles (XX) 93.0 9 2 32.4 3 10 60.6
Other 40 4 18 58 4 27 -18

The statistics are based on the questionnaires “Intrastat” and “Exports (sale of fish and crustaceans in foreign waters and ports)”, the due dates of which were, respectively, 14 and 15 July 2017, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 July 2017. Statistics Estonia published the monthly summary of foreign trade in 14 working days. In the case of the statistical activity “Foreign trade”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.

For further information:

Evelin Puura
Leading Statistician-Methodologist
Enterprise and Agricultural Statistics Department
Statistics Estonia
Tel. +372 625 9259

More detailed data have been published in the Statistical Database and pre-defined tables. Due to rounding, the sum of rows in some tables differ from the sum total of the column.