Imports of goods increased in November
According to Statistics Estonia, in November 2022, Estonia’s exports of goods at current prices remained at the same level and imports increased by 12% compared with November 2021.
In November, Estonia’s exports of goods at current prices amounted to 1.7 billion and imports to 2.1 billion euros. The trade deficit was 352 million euros, which is 220 million euros more than a year earlier.
“Imports from EU countries increased by 21%, while imports from non-EU countries decreased by 14%. The decline was significantly influenced by a drop in imports of goods and raw materials from Russia and Belarus,” said Evelin Puura, leading analyst at Statistics Estonia. The share of EU imports increased to 80%. “The situation is different in exports: in November, total exports remained at the level of the previous year. This was influenced by a decline in exports of goods of Estonian origin. However, it was offset by an increase in re-exports,” Puura added.
Estonia's largest export partner in November 2022 was Finland (17% of total exports), followed by Latvia (13%) and Sweden (10%). The main commodities exported were natural gas, parts of machinery, and wood in the rough to Finland, electricity, natural gas, and automobiles to Latvia, and communication equipment and prefabricated wooden buildings to Sweden. The biggest increase occurred in exports to Latvia (up by 41 million euros), Sweden (up by 15 million euros), and Denmark (up by 14 million euros). Compared with last year, more electricity, natural gas, and nitrogen fertiliser were exported to Latvia, communication equipment, wood strips, and prefabricated wooden buildings to Sweden, and fuel oil and legumes to Denmark. Exports decreased to the United States (down by 83 million euros), Gibraltar (down by 34 million euros), the United Kingdom, and the Netherlands (both by 16 million euros). Less communication equipment was exported to the US and less mineral fuels to the other three countries.
The main commodities exported in November were mineral fuels and electricity (for 260 million euros), electrical equipment (for 231 million euros), and agricultural products and food preparations (for 194 million euros). Compared with November 2021, the biggest increase occurred in the exports of agricultural products and food preparations, transport equipment, and mechanical appliances. The biggest drop, however, was recorded in the exports of base metals and articles of base metal and wood and articles of wood.
Goods of Estonian origin accounted for 65% of the total exports of goods. Re-exports from Estonia increased by 20% compared with a year earlier, while exports of domestic goods decreased by 8%. The decline in the share of domestic goods in total exports has been most affected by the fall in exports of mineral products, communication equipment, scrap metal, and sawn timber.
The top partner countries for Estonia’s imports of goods were Finland (17% of Estonia’s total imports), Lithuania and Latvia (both 11%). Compared with November 2021, the biggest rise was recorded in imports from Finland (up by 65 million euros), followed by Latvia with an increase by 58 million euros, and Lithuania with 49 million euros. Compared with a year earlier, more electricity and motor fuel from Finland, natural gas from Latvia, and motor fuels from Lithuania were imported to Estonia. The biggest decrease occurred in imports from Belarus (down by 52 million euros) and Russia (down by 48 million euros).
The main commodities imported to Estonia in November were mineral products (for 445 million euros), electrical equipment (for 241 million euros), and agricultural products and food preparations (for 205 million euros). The biggest increases were in imports of mineral fuels and electricity, agricultural products and food preparations, and raw materials and products of chemical industry. Imports of wood and articles of wood and articles of plastics and rubber decreased.
|Month||Exports, million euros||Imports, million euros||Balance, million euros|
|2021||2022||Change, %||2021||2022||Change, %||2021||2022|
|Country of destination, group of countries||Exports, million euros||Share, %||Change on previous year, %||Country of consignment, group of countries||Imports, million euros||Share, %||Change on previous year, %|
|Euro area 19||918||53||5||Euro area 19||1,321||63||23|
|1. Finland||288||17||4||1. Finland||347||17||23|
|2. Latvia||224||13||22||2. Lithuania||231||11||27|
|3. Sweden||167||10||10||3. Latvia||225||11||34|
|4. Lithuania||107||6||13||4. Germany||206||10||4|
|5. Germany||96||5||-9||5. Poland||132||6||17|
|6. Netherlands||81||5||-17||6. Sweden||130||6||7|
|7. Russia||74||4||-4||7. Russia||122||6||-28|
|8. Denmark||64||4||27||8. Netherlands||80||4||4|
|9. Norway||62||4||16||9. China||76||4||-1|
|10. USA||60||3||-58||10. Belgium||73||3||109|
|Commodity section (chapter) by Combined Nomenclature (CN)||Exports||Imports||Balance, million euros|
|Million euros||Share, %||Change on previous year, %||Million euros||Share, %||Change on previous year, %|
|Agricultural products and food preparations (I–IV)||194||11||24||205||10||25||-12|
|Mineral products (V)||260||15||-5||445||21||52||-185|
|Raw materials and products of chemical industry (VI)||87||5||11||195||9||15||-108|
|Articles of plastics and rubber (VII)||52||3||-2||94||4||-10||-42|
|Wood and articles of wood (IX)||191||11||-12||59||3||-36||132|
|Paper and articles thereof (X)||35||2||-3||32||2||2||3|
|Textiles and textile articles (XI)||47||3||30||78||4||14||-30|
|Base metals and articles of base metal (XV)||131||8||-20||167||8||-3||-36|
|Machinery and mechanical appliances (84)||155||9||14||201||10||6||-46|
|Electrical equipment (85)||231||13||-7||241||11||-3||-10|
|Transport equipment (XVII)||111||6||21||174||8||11||-63|
|Optical, measuring, precision instruments (XVIII)||57||3||26||47||2||20||9|
|Miscellaneous manufactured articles (XX)||123||7||-12||57||3||-1||66|
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.
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
Tel +372 625 9181
press [at] stat.ee