In August, trade increased
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.
|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|
|Euro area 19||558||50||20||Euro area 19||714||58||12|
|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|
|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|
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.
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