In February, trade increased

news release no 40

According to Statistics Estonia, in February 2018, the exports of goods increased by 15% and imports by 13% compared to February 2017. There was significant growth in exports to non-EU countries, mineral products (fuels and fuel additives) were exported the most.

In February 2018, exports from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.2 billion euros. The trade deficit was 93 million euros (in February 2017, it was 100 million euros).

In February, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports), Sweden (11%) and Latvia (8%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; electrical equipment and wood and articles of wood (wood in the rough, doors and windows of coniferous wood) were the main commodities exported to Sweden; and transport equipment (motor cars), agricultural products and food preparations (spirits, beer, wheat) were the main commodities exported to Latvia. The biggest increase occurred in exports to Singapore (up by 28 million euros), Germany (up by 23 million euros) and the United Kingdom (up by 21 million euros). In exports to Singapore and the United Kingdom, the exports of mineral products increased. There was also an increase in the exports of electrical equipment to Germany. The biggest decrease occurred in exports to the Netherlands (down by 20 million euros), where less mineral products were dispatched.

In February, the biggest share in the exports of goods was held by mineral products (16% of the total exports of goods), followed by electrical equipment (15%) and wood and articles of wood (11%). The last time the exports of mineral products surpassed the exports of electrical equipment was in 2011. The greatest increase was in the exports of mineral products (up by 70 million euros), metals and articles of base metal (up by 24 million euros) and mechanical appliances and electrical equipment (both up by 12 million euros). At the same time, the exports of miscellaneous manufactured articles decreased (down by 9 million euros).

The share of goods of Estonian origin in total exports was 74% in February 2018. The exports of goods of Estonian origin grew by 14% and re-exports by 18%. The exports of goods of Estonian origin grew the most in the commodity sections of mineral products (shale oil, fuel additives), metals and articles of base metal (metal waste, metal structures) and agricultural products and food preparations (barley, rape). The exports of miscellaneous manufactured articles decreased (prefabricated wood buildings, lighting fixtures).

The main countries of consignment in February were Finland (13% of Estonia’s total imports), Germany (11%) and Sweden (10%). Electrical equipment and metals and articles of base metal were the main commodities imported from Finland; transport equipment and electrical equipment from Germany and Sweden. The biggest increase occurred in imports from Belarus (up by 30 million euros, i.e. approximately 6 times), Finland (up by 25 million euros) and Latvia (up by 21 million euros). Mineral products were imported more from Belarus (motor spirit, fuel additives), electrical equipment from Finland and metals and articles of base metal from Latvia.

The main commodities imported to Estonia were electrical equipment (14% of the total imports of goods), mineral products (13%) and mechanical appliances (12%). The greatest increase was in the imports of mechanical appliances and mineral products (both up by 32 million euros) and transport equipment (up by 21 million euros).

In February 2018, the foreign trade export volume index increased by 2% and the import volume index by 10% compared to February 2017.

Estonia’s foreign trade by month, 2016–2018

Estonia’s foreign trade by month, 2017–2018
Month Exports, million euros Imports, million euros Balance, million euros
2017 2018 change, % 2017 2018 change, % 2017 2018
TOTAL 1,911 2,147 12 2,422 2,462 2 -511 -316
January 940 1,030 10 1,350 1,253 -7 -410 -223
February 972 1,117 15 1,072 1,209 13 -100 -93
Main foreign trade partners of Estonia, February 2018
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 1,117 100 15 TOTAL 1,209 100 13
EU-28 764 68 8 EU-28 937 77 8
Euro area 19 506 45 7 Euro area 19 670 55 10
Non-EU 353 32 33 Non-EU 272 23 34
1. Finland 174 16 13 1. Finland 161 13 19
2. Sweden 128 11 -9 2. Germany 130 11 16
3. Latvia 93 8 16 3. Sweden 116 10 21
4. Germany 79 7 40 4. Latvia 109 9 24
5. Lithuania 72 6 19 5. Russia 106 9 21
6. Russia 56 5 3 6. Lithuania 93 8 4
7. United Kingdom 44 4 87 7. Poland 75 6 0
8. Denmark 41 4 20 8. Netherlands 64 5 -9
9. USA 36 3 20 9. China 41 3 -15
10. Norway 35 3 -11 10. Belarus 36 3 -
Exports and imports by commodity section, February 2018
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 1,117 100 15 1,209 100 13 -93
Agricultural products and food preparations (I–IV) 90 8 12 112 9 6 -22
Mineral products (V) 180 16 64 160 13 25 20
Raw materials and products of chemical industry (VI) 55 5 4 104 9 5 -49
Articles of plastics and rubber (VII) 35 3 14 66 5 8 -31
Wood and articles of wood (IX) 121 11 7 44 4 16 77
Paper and articles thereof (X) 28 3 6 22 2 12 6
Textiles and textile articles (XI) 31 3 -4 51 4 -5 -20
Base metals and articles of base metal (XV) 93 8 36 111 9 21 -18
Mechanical appliances (84) 93 8 14 139 12 30 -46
Electrical equipment (85) 172 15 7 163 14 -1 10
Transport equipment (XVII) 68 6 15 124 10 20 -56
Optical, measuring, precision instruments (XVIII) 30 3 -3 27 2 5 3
Miscellaneous manufactured articles (XX) 87 8 -9 29 2 -1 58
Other 34 3 11 57 5 26 -24

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 March 2018, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 March 2018. 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.