In November 2017, trade increased
According to Statistics Estonia, in November 2017 compared to November 2016, the exports of goods increased by 8% and imports by 9%. The growth in exports and imports was broad-based, a small increase occurred in most commodity sections.
In November 2017, exports from Estonia amounted to 1.2 billion euros and imports to Estonia to 1.3 billion euros. The trade deficit was 111 million euros (in November 2016, it was 94 million euros).
In November 2017, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports), Sweden (12%) and Latvia (10%). The biggest increase occurred in exports to Latvia (up by 27 million euros), Saudi Arabia (up by 23 million euros) and the United States (up by 16 million euros). In exports to Latvia, the exports of mineral products (fuel additives, electricity) and transport equipment (motor cars) increased. There was also an increase in the exports of agricultural products (barley) to Saudi Arabia and in the exports of electrical equipment (communication equipment) to the United States. The biggest decrease occurred in exports to Sweden (down by 50 million euros), where less electrical equipment was delivered.
The biggest share in exports was held by electrical equipment, followed by agricultural products and food preparations, and wood and articles of wood. The greatest increase was in the exports of mineral products (up by 17 million euros), mechanical appliances (up by 16 million euros), and wood and articles of wood (up by 15 million euros). The exports of electrical equipment decreased (down by 17 million euros).
The share of goods of Estonian origin in total exports was 73% in November 2017. The exports of goods of Estonian origin grew 8% and re-exports 9%. The exports of goods of Estonian origin grew the most in the commodity sections of mineral fuels, cereals, and wood and articles of wood. Among the main destination countries, the exports of goods of Estonian origin had the highest share (above 90%) in exports to Denmark, Sweden and Norway.
The main countries of consignment in November 2017 were Finland (13% of Estonia’s total imports), Germany (11%), Lithuania (9%), Latvia (9%) and Sweden (9%). The biggest increase occurred in imports from Sweden (up by 25 million euros), Poland (up by 21 million euros) and Finland (up by 16 million euros). Transport equipment (motor cars) was imported the most from Sweden, raw materials and products of chemical industry (medicaments) from Poland and mineral products (electricity) from Finland. Imports from Hungary decreased the most (down by 5 million euros), with less electrical equipment imported.
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 raw materials and products of chemical industry (up by 31 million euros), transport equipment (up by 28 million euros) and mechanical appliances (up by 15 million euros).In November 2017, the foreign trade export volume index increased by 4% and the import volume index by 20% compared to the same period of 2016.
|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||1 151||100||8||TOTAL||1 263||100||9|
|Euro area 19||577||50||17||Euro area 19||738||58||7|
|1. Finland||189||16||5||1. Finland||159||13||11|
|2. Sweden||135||12||-27||2. Germany||134||11||6|
|3. Latvia||113||10||32||3. Lithuania||120||9||1|
|4. Russia||87||8||20||4. Latvia||116||9||6|
|5. Germany||78||7||15||5. Sweden||113||9||29|
|6. Lithuania||71||6||16||6. Poland||104||8||26|
|7. Norway||46||4||-2||7. Russia||73||6||8|
|8. Netherlands||39||3||31||8. Netherlands||70||6||11|
|9. USA||38||3||73||9. China||47||4||9|
|10. Denmark||33||3||-20||10. United Kingdom||35||3||6|
|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||1 151||100||8||1 263||100||9||-111|
|Agricultural products and food preparations (I–IV)||138||12||11||136||11||4||2|
|Mineral products (V)||97||8||22||106||8||-1||-9|
|Raw materials and products of chemical industry (VI)||64||6||24||129||10||31||-65|
|Articles of plastics and rubber (VII)||39||3||14||71||6||14||-32|
|Wood and articles of wood (IX)||125||11||14||46||4||19||79|
|Paper and articles thereof (X)||32||3||11||26||2||8||6|
|Textiles and textile articles (XI)||35||3||5||55||4||1||-21|
|Base metals and articles of base metal (XV)||86||7||19||113||9||13||-27|
|Mechanical appliances (84)||99||9||19||129||10||13||-30|
|Electrical equipment (85)||190||17||-8||198||16||3||-8|
|Transport equipment (XVII)||76||7||21||137||11||25||-61|
|Optical, measuring, precision instruments (XVIII)||39||3||15||31||2||22||8|
|Miscellaneous manufactured articles (XX)||99||9||-1||38||3||14||61|
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 December 2017, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 December 2017. Statistics Estonia published the monthly summary of foreign trade in 11 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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