In August, trade increased

news release no 110

According to Statistics Estonia, in August 2017, the exports of goods increased by 8% and imports by 12% compared to August 2016. Increased exports and imports of mineral products and mechanical appliances contributed to trade growth.

In August 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 115 million euros (in August 2016, it was 70 million euros).

The biggest share in exports was held by electrical equipment (incl. communication equipment, electrical transformers, control boards, cabinets), followed by mineral products (incl. shale oil, motor spirits, electricity) and miscellaneous manufactured articles (incl. prefabricated wood buildings, furniture). The greatest increase was in the exports of mineral products (up by 62 million euros), mechanical appliances (up by 19 million euros), and base metals and articles of base metal (up by 17 million euros). At the same time, the exports of electrical equipment continued to decrease (down by 47 million euros).

The share of goods of Estonian origin in total exports was 73% in August. In August, the exports of goods of Estonian origin grew 11%, while re-exports increased 2%. The rise in the exports of goods of Estonian origin was affected the most by an increase in the exports of mineral products (shale oil), base metals and articles of base metal (metal waste) and wood and articles of wood (wood pellets, coniferous saw-timber).

The top destination countries of Estonia’s exports were Finland (17% of Estonia’s total exports), Sweden (13%) and Latvia (10%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; electrical equipment and miscellaneous manufactured articles (prefabricated wood buildings, pillows, blankets) were the main commodities exported to Sweden; mineral products (electricity) and agricultural products and food preparations (raw milk) were the main commodities exported to Latvia. The biggest increase occurred in exports to the Netherlands (up approximately 2.5 times, i.e. 30 million euros), Russia (up by 18 million euros) and Finland (up by 17 million euros). In exports to the Netherlands, the exports of shale oil, to Russia, the exports of shovel loaders and excavators, and to Finland, the exports of heavy oils and flat-rolled products increased the most. The biggest decrease occurred in exports to Sweden.

The main commodities imported to Estonia were electrical equipment (communication equipment parts, mobile phones), agricultural products and food preparations (wine, food preparations, spirits), mechanical appliances (data-processing machines, shovel loaders, excavators), mineral products (fuel oils, gas oils), and transport equipment (motor cars, their parts). The biggest increase was in the imports of mineral products, mechanical appliances and transport equipment, and the biggest fall occurred in the imports of electrical equipment.

The main countries of consignment in August 2017 were Finland (12% of Estonia’s total imports), Germany (11%), Sweden (10%) and Lithuania (10%). The main commodities imported were electrical equipment and base metals and articles of base metal from Finland; mechanical appliances and transport equipment from Germany; mineral products and transport equipment from Sweden; mineral products, agricultural products and food preparations from Lithuania. The biggest increase occurred in imports from Sweden, Germany and Finland. Imports from Hungary decreased the most.

In August 2017, the foreign trade export volume index increased by 4% and the import volume index by 10% compared to the same period of the previous year.

Estonia’s foreign trade by month, 2015–2017

Main foreign trade partners of Estonia, August 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 1 110 100 8 TOTAL 1 225 100 12
EU-28 796 72 9 EU-28 1 015 83 13
Euro area 19 558 50 20 Euro area 19 714 58 12
Non-EU 314 28 7 Non-EU 210 17 7
1. Finland 187 17 10 1. Finland 152 12 9
2. Sweden 145 13 -16 2. Germany 140 11 14
3. Latvia 115 10 16 3. Sweden 127 10 35
4. Russia 83 8 27 4. Lithuania 119 10 9
5. Lithuania 70 6 16 5. Latvia 108 9 12
6. Germany 69 6 18 6. Poland 84 7 13
7. Norway 54 5 14 7. Netherlands 73 6 16
8. Netherlands 50 5 - 8. Russia 69 6 14
9. Denmark 26 2 -7 9. China 51 4 2
10. United Kingdom 24 2 4 10. United Kingdom 36 3 37
Exports and imports by commodity section, August 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 1 110 100 8 1 225 100 12 -115
Agricultural products and food preparations (I–IV) 89 8 8 130 11 4 -41
Mineral products (V) 150 14 70 126 10 32 24
Raw materials and products of chemical industry (VI) 54 5 10 98 8 15 -44
Articles of plastics and rubber (VII) 37 3 4 74 6 15 -37
Wood and articles of wood (IX) 104 9 14 41 3 18 63
Paper and articles thereof (X) 28 3 -6 24 2 3 5
Textiles and textile articles (XI) 33 3 -7 62 5 1 -29
Base metals and articles of base metal (XV) 92 8 23 114 9 17 -22
Mechanical appliances (84) 88 8 27 128 11 28 -40
Electrical equipment (85) 186 17 -20 184 15 -2 2
Transport equipment (XVII) 63 6 3 120 10 19 -58
Optical, measuring, precision instruments (XVIII) 31 3 -7 27 2 -1 5
Miscellaneous manufactured articles (XX) 110 10 10 36 3 16 74
Other 45 3 8 62 5 2 -17

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 September 2017, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 September 2017. Statistics Estonia published the monthly summary of foreign trade in 13 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.