In the 3rd quarter, trade growth slowed
According to Statistics Estonia, in the 3rd quarter, compared to the 3rd quarter of the previous year, exports grew 4% and imports 6%. Compared to the 1st and 2nd quarter of 2017, trade slowed in the 3rd quarter.
In the 3rd quarter of 2017, exports of goods from Estonia amounted to 3.1 billion euros and imports to Estonia to 3.5 billion euros at current prices. The trade deficit was 390 million euros (in the 3rd quarter of 2016, it was 302 million euros).
In the 3rd quarter of 2017, growth was fastest in the exports of base metals and articles of base metal (up by 54 million euros), wood and articles of wood (up by 41 million euros) and mineral products (up by 35 million euros). At the same time, there was considerable decline in the exports of electrical equipment (down by 90 million euros). Growth in imports was significantly affected by an increase in the imports of base metals and articles of base metal (up by 57 million euros), mechanical appliances (up by 51 million euros) and transport equipment (up by 45 million euros). The imports of electrical equipment decreased (down by 48 million euros). In the first nine months, the exports of goods increased by 8% and imports by 9% year on year.
In September 2017, the exports of goods decreased by 1% and imports increased by 1% compared to September 2016. In September 2017, exports from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.2 billion euros. The trade deficit was 99.5 million euros (in September 2016, it was 76.8 million euros).
The top destination countries of Estonia’s exports were Finland (17% of Estonia’s total exports), Sweden (14%) and Latvia (9%). The biggest decrease occurred in exports to the Netherlands (down by 30 million euros) with less mineral products exported. The biggest increase occurred in exports to Germany (up by 13 million euros) and Finland (up by 12 million euros). In exports to Germany, the exports of electrical equipment increased, and in exports to Finland, the exports of base metals and articles of base metal, and mechanical appliances increased.
The biggest share in exports was held by electrical equipment, followed by wood and articles of wood, and miscellaneous manufactured articles. The greatest decrease was in the exports of electrical equipment (down by 35 million euros) and mineral products (down by 19 million euros). At the same time, the exports of base metals and articles of base metal and of wood and articles of wood increased.
The share of goods of Estonian origin in total exports was 73% in September. The exports of goods of Estonian origin increased 1% and re-exports decreased 7%.
The main countries of consignment in September 2017 were Finland (13% of Estonia’s total imports), Germany (11%) and Lithuania (10%). The biggest increase occurred in imports from Russia (up by 18 million euros) and Latvia (up by 10 million euros). Imports from the United States and Hungary decreased the most.The main commodities imported to Estonia were electrical equipment, transport equipment, agricultural products and food preparations, mechanical appliances, and base metals and articles of base metal. The biggest increase was in the imports of base metals and articles of base metal, and mechanical appliances, and the biggest fall occurred in the imports of electrical equipment.
|Month||Exports, million euros||Imports, million euros||Balance, million euros|
|2016||2017||change, %||2016||2017||change, %||2016||2017|
|February||920.1||972.8||6||1 060.1||1 072.1||1||-140.0||-99.3|
|March||1 034.4||1 180.9||14||1 188.5||1 315.6||11||-154.2||-134.7|
|1st quarter||2 778.8||3 096.6||11||3 229.2||3 738.1||16||-450.4||-641.5|
|April||1 048.4||1 029.3||-2||1 207.1||1 209.8||0||-158.7||-180.6|
|May||999.7||1 150.7||15||1 149.4||1 297.8||13||-149.6||-147.0|
|June||977.8||1 089.5||11||1 134.5||1 200.9||6||-156.7||-111.4|
|2nd quarter||3 025.9||3 269.5||8||3 490.9||3 708.5||6||-465.0||-439.0|
|July||889.7||942.1||6||1 044.9||1 128.9||8||-155.2||-186.7|
|August||1 024.0||1 111.9||9||1 093.7||1 215.8||11||-69.7||-103.9|
|September||1 104.1||1 090.9||-1||1 180.9||1 190.4||1||-76.8||-99.5|
|3rd quarter||3 017.8||3 144.9||4||3 319.5||3 535.1||6||-301.6||-390.2|
|9 months||8 822.5||9 511.0||8||10 039.6||10 981.7||9||-1 217.1||-1 470.7|
|Country of destination, group of countries||Exports, million euros||Share, %||Change on same month of previous year, %||Country of consignment, group of countries||Imports, million euros||Share, %||Change on same month of previous year, %|
|TOTAL||1 090.9||100||-1||TOTAL||1 190.4||100||1|
|Euro area 19||517.6||47||-2||Euro area 19||712.3||60||4|
|1. Finland||183.0||17||7||1. Finland||157.0||13||4|
|2. Sweden||158.0||14||-8||2. Germany||131.7||11||5|
|3. Latvia||99.2||9||-9||3. Lithuania||121.6||10||6|
|4. Germany||79.5||7||19||4. Latvia||109.5||9||10|
|5. Russia||77.8||7||6||5. Sweden||104.5||9||-5|
|6. Lithuania||62.4||6||-4||6. Poland||88.3||7||4|
|7. Norway||47.7||4||0||7. Russia s||70.1||6||35|
|8. Denmark||29.5||3||-4||8. Netherland||66.5||6||-5|
|9. United Kingdom||28.2||3||23||9. China||50.8||4||15|
|10. Poland||25.8||2||22||10. United Kingdom||35.4||3||6|
|Commodity section (chapter) by Combined Nomenclature (CN)||Exports||Imports||Balance, million euros|
|million euros||share, %||change on same period of previous year, %||million euros||share,%||change on same period of previous year, %|
|TOTAL||1 090.9||100||-1||1 190.4||100||1||-99.5|
|Agricultural products and food preparations (I–IV)||93.9||9||-4||124.5||10||2||-30.4|
|Mineral products (V)||89.4||8||-18||102.6||9||11||-13.1|
|Raw materials and products of chemical industry (VI)||58.7||5||11||101.0||8||4||-42.2|
|Articles of plastics and rubber (VII)||37.3||3||2||74.1||6||13||-36.7|
|Wood and articles of wood (IX)||118.7||11||15||42.9||4||18||75.8|
|Paper and articles thereof (X)||30.9||3||9||23.8||2||-7||7.1|
|Textiles and textile articles (XI)||36.6||3||-4||61.1||5||2||-24.5|
|Base metals and articles of base metal (XV)||98.1||9||29||115.3||10||16||-17.1|
|Mechanical appliances (84)||94.4||9||3||119.2||10||11||-24.8|
|Electrical equipment (85)||190.0||17||-15||184.4||16||-10||5.6|
|Transport equipment (XVII)||66.6||6||-4||126.8||11||-1||-60.2|
|Optical, measuring, precision instruments (XVIII)||33.6||3||-4||27.7||2||-7||5.9|
|Miscellaneous manufactured articles (XX)||104.6||10||7||35.5||3||3||69.1|
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 October 2017, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 October 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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