In July, the exports of goods of Estonian origin increased
According to Statistics Estonia, in July 2020, compared to July 2019, the exports of goods decreased by 1% and imports by 6%. The decline in exports was mainly due to a fall in re-exports, whereas the exports of goods of Estonian origin grew.
In July, Estonia’s exports of goods amounted to 1.2 billion euros and imports to 1.3 billion euros at current prices. The trade deficit was 124 million euros; it decreased by 77 million euros compared to July 2019.
According to Evelin Puura, leading analyst at Statistics Estonia, the exports of goods of Estonian origin showed signs of recovery compared to July 2019. “Growth in the exports of goods of Estonian origin was driven mainly by the exports of disinfection products and processed fuels. The decline in imports was mostly the result of a continued fall in the imports of iron and steel as well as passenger cars and fuel,” added Puura.
In July, the top destination country of Estonia’s exports was Finland, followed by Latvia and Sweden. The biggest decrease occurred in exports to Denmark (down by 27 million euros) and the USA (down by 18 million euros). Compared to the previous year, less shale oil was exported to Denmark and less electrical equipment to the USA. Exports increased the most to the United Kingdom and Australia (by 33 million euros to each). Compared to last year, more ethyl alcohol based disinfection products and processed fuel oil were exported to the United Kingdom, and more motor spirit was exported to Australia.
The biggest exports from Estonia were electrical equipment, mineral products, and agricultural products and food preparations. Compared to July 2019, the exports of mechanical appliances declined by 10 million euros. The biggest increase (by 12 million euros) occurred for exports of agricultural products and food preparations.
Of the total exports of goods, the goods of Estonian origin accounted for 70%. Their exports increased by 6%, and re-exports decreased by 13%, compared to last year’s July. The main increase occurred in the exports of disinfection products and processed fuels of Estonian origin. In terms of re-exports, the biggest decline occurred for mechanical machinery, and base metals and articles of base metal.
The main countries of consignment were Finland, Germany and Latvia. Imports decreased the most from Sweden (down by 26 million euros), Russia and Finland (down by 20 million euros from each). From Sweden, the imports of transport and electrical equipment decreased the most; from Russia, the imports of raw materials and products of chemical industry; and from Finland, the imports of electrical equipment. The imports of goods increased the most from China (up by 13 million euros), with more electrical and protective equipment imported.
The main commodities imported to Estonia were electrical equipment, mineral products, agricultural products and food preparations, and transport equipment. The biggest decrease occurred in the imports of base metals and articles of base metal and transport equipment, and the biggest increase in the imports of precious metals.
|Month||Exports, million euros||Imports, million euros||Balance, million euros|
|2019||2020||Change, %||2019||2020||Change, %||2019||2020|
|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, %|
|Euro area 19||563||48||-3||Euro area 19||728||57||-5|
|Non-EU and United Kingdom||414||36||9||Non-EU and United Kingdom||307||24||-8|
|1. Finland||177||15||-7||1. Finland||160||12||-11|
|2. Latvia||120||10||1||2. Germany||147||11||4|
|3. Sweden||91||8||-14||3. Latvia||120||9||9|
|4. Germany||84||7||17||4. Lithuania||114||9||-14|
|5. Lithuania||80||7||-8||5. Russia||107||8||-16|
|6. USA||74||6||-20||6. Sweden||99||8||-21|
|7. Russia||71||6||-11||7. Poland||93||7||4|
|8. United Kingdom||55||5||-||8. China||65||5||26|
|9. Poland||40||3||49||9. Netherlands||58||4||17|
|10. Australia||36||3||-||10. Italy||35||3||-3|
|Commodity section (chapter) by Combined Nomenclature (CN)||Exports, million euros||Share, %||Change on same period of previous year, %||Imports, million euros||Share, %||Change on same period of previous year, %||Balance, million euros|
|Agricultural products and food preparations (I–IV)||111||10||12||145||11||3||-34|
|Mineral products (V)||132||11||-6||154||12||-13||-22|
|Raw materials and products of chemical industry (VI)||66||6||5||117||9||-5||-50|
|Articles of plastics and rubber (VII)||38||3||-3||72||5||-5||-34|
|Wood and articles of wood (IX)||100||9||-7||44||3||-5||57|
|Paper and articles thereof (X)||22||2||-13||21||2||-10||2|
|Textiles and textile articles (XI)||32||3||7||49||4||-12||-17|
|Base metals and articles of base metal (XV)||93||8||-9||117||9||-22||-24|
|Mechanical appliances (84)||105||9||-8||134||10||-4||-29|
|Electrical equipment (85)||186||16||2||167||13||4||19|
|Transport equipment (XVII)||87||7||-9||137||11||-16||-50|
|Optical, measuring, precision instruments (XVIII)||43||4||15||32||3||12||11|
|Miscellaneous manufactured articles (XX)||95||8||3||33||3||-4||62|
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. Visualized data of Estonia’s foreign trade can be viewed in Statistics Estonia’s application.
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