In 2022, trade of goods increased, trade deficit was 3.3 billion euros

In 2022, Estonia’s exports of goods amounted to 21 billion and imports to 25 billion euros at current prices. The trade deficit was 3.3 billion euros, up by 1.5 billion euros year on year. The increase in the deficit was most affected by trade in raw materials and products of chemical industry, transport equipment, and mineral fuels. The largest surplus was recorded in the trade in wood and articles of wood and miscellaneous manufactured articles (incl. furniture, prefabricated wooden buildings).

Evelin Puura, leading analyst at Statistics Estonia, pointed out that 2022 was characterised by continuing increases in the prices of raw materials and energy carriers, war, and sanctions against Russia and Belarus. “Prior to the imposition of sanctions, there was a significant increase in exports or imports of these goods. At the beginning of the year, price rises supported the increase in trade values, but in the second half of the year, the economic slowdown started to have an impact,” Puura said. In the second half of the year, exports of goods of Estonian origin began to fall significantly while re-exports increased.

Estonia exported goods to 190 countries and imported them from 156 countries. “Our main trading partners were the member states of the European Union, which accounted for 70% in exports and 78% in imports,” Puura added.

The top partner country for Estonia’s exports of goods in 2022 was Finland (15% of total exports), followed by Latvia (14%) and Sweden (9%). The main commodities exported to Finland were base metals and articles of base metal (flat-rolled products, metal structures), agricultural products and food preparations (incl. cheese, cereals, rapeseed, pastries, sauces), electrical equipment (incl. electric motors and their parts, transformers, distribution boards). Exports to Latvia included electricity, natural gas, food preparations (incl. crude milk, meat products), and transport equipment (incl. automobiles, goods vehicles). The main commodities exported to Sweden were communication equipment, wood and articles of wood (incl. wood strips, doors, windows) and prefabricated wooden buildings. The biggest increase occurred in exports to Latvia (up by 1.2 billion euros), Finland (up by 475 million euros), and Sweden (up by 281 million euros). Compared with the year before, more electricity, natural gas, agricultural products, and food preparations were exported to Latvia, electrical equipment, base metals and articles of base metal to Finland, and electrical equipment and wood and articles of wood to Sweden. Exports decreased most to the United States (down by 513 million euros) and the Netherlands (down by 264 million euros). Less communication equipment was exported to the US and less mineral fuels to the Netherlands.

The main commodities exported were mineral fuels and electricity, electrical equipment, and wood and articles of wood. Compared with 2021, the biggest increase occurred in the exports of mineral fuels and electricity, agricultural products and food preparations, and wood and articles of wood. The biggest drop, however, was recorded in the exports of electrical equipment.

Re-exports from Estonia grew by 42%, while exports of domestic goods increased by 7%. The share of goods of Estonian origin in total exports was 66%. The decline in the share of domestic goods in total exports compared with the year earlier has been most affected by the fall in exports of processed fuels and communication equipment.

The top partner countries for Estonia’s imports of goods were Finland (16% of total imports), Lithuania, Germany, and Latvia (all three accounting for 10%). Compared with 2021, the biggest rise was recorded in imports from Finland (up by 1.1 billion euros), followed by Lithuania with an increase by 731 million euros, and Latvia (up by 625 million euros). Compared with 2021, more electricity and motor fuel from Finland, natural gas, food preparations, and communication equipment from Latvia, and motor fuels and food preparations from Lithuania were imported to Estonia. The biggest decrease occurred in imports from Belarus (down by 484 million euros) and Russia (down by 293 million euros).

The main commodities imported to Estonia were mineral fuels and electricity, electrical equipment, base metals and articles of base metal, and mechanical appliances. The biggest increases were in imports of mineral fuels and electricity (for 1.6 billion euros), agricultural products and food preparations (for 485 million euros), and mechanical appliances (for 343 million euros).

Last December, both export and import values remained at the same level as in 2021. Estonia exported goods worth 1.7 billion and imported goods worth 1.9 billion euros. The main export and import items were mineral fuels and electricity, electrical equipment, and agricultural products and food preparations. The main destinations for exports were Latvia, Finland, and Sweden, whereas most imports came from Finland, Germany, and Latvia.

Statistics Estonia performs the statistical activity “Foreign trade” for the Ministry of Economic Affairs and Communications with the aim to determine how exporting and importing enterprises are performing in Estonia.

See also the foreign trade section on our website. Visualised data of Estonia’s foreign trade can be viewed in Statistics Estonia’s application.

More detailed data have been published in the statistical database. Due to rounding, the sum of rows in some tables may differ from the sum total of the column.

For further information:

Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee

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