In August, Estonia’s foreign trade decreased again

News
Posted on 9. October 2020 8:00

According to Statistics Estonia, in August 2020, compared to August 2019, the exports of goods decreased by 6% and imports by 4%. The fall was mostly in trade with European Union member states.

In August, Estonia’s exports of goods amounted to 1.1 billion euros and imports to 1.2 billion euros at current prices. The trade deficit was 113 million euros; it increased by 15 million euros compared to August 2019.

According to Evelin Puura, leading analyst at Statistics Estonia, Estonia’s exports depend to a great extent on the economic situation in neighbouring countries Finland, Sweden and Latvia. “In August, the share of these three main partner countries accounted for a third of the exports of goods; the share of European Union countries was 67%. Dispatches to EU countries declined year on year by 62 million euros,” explained Puura.

In August, the top destination country of Estonia’s exports was Finland, followed by Sweden and Latvia. The biggest decreases occurred in exports to Finland (by 19 million euros) and Denmark (by 17 million euros). Compared to the previous year, less electrical equipment was exported to Finland and less shale oil to Denmark. Exports increased the most to China (by 17 million euros) and the United Kingdom (by 11 million euros). Compared to last year, more electrical equipment was exported to China and more ethyl alcohol based disinfection products and wood pellets were exported to the United Kingdom.

The biggest exports from Estonia were electrical equipment, wood and articles of wood, agricultural products and food preparations, and miscellaneous manufactured articles. Compared to August 2019, the exports of mineral products declined by 33 million euros. The biggest increase (by 9 million euros) occurred for exports of wood and articles of wood.

Of the total exports of goods, the goods of Estonian origin accounted for 71%. Their exports decreased by 5% and re-exports by 8%, compared to last year’s August. The biggest decrease occurred in the exports of shale oil of Estonian origin and the biggest increases in the exports of wood pellets, strips of coniferous wood, veneer, thermometers and parts of measuring instruments.

The main countries of consignment were Finland, Germany and Lithuania. Imports decreased the most from Lithuania (by 17 million euros) and Finland (by 16 million euros). From Lithuania, the imports of motor fuel decreased the most; from Finland, the imports of scrap metal. The imports of goods increased the most from China (by 17 million euros), with more electrical equipment imported.

The main commodities imported to Estonia were electrical equipment, agricultural products and food preparations, and mechanical appliances. The biggest decreases occurred in the imports passenger cars and motor fuels.

Estonia's foreign trade by month, 2018–2020
Estonia’s foreign trade by month, 2019–2020
Month Exports, million euros Imports, million euros Balance, million euros
2019 2020 Change, % 2019 2020 Change, % 2019 2020
TOTAL

9,633

8,917

-7

10,663

9,587

-10

-1,030

-670

January

1,158

1,147

-1

1,279

1,162

-9

-121

-15

February

1,163

1,089

-6

1,251

1,209

-3

-88

-120

March

1,239

1,235

0

1,406

1,385

-2

-167

-150

April

1,241

1,022

-18

1,389

1,084

-22

-148

-62

May

1,335

1,004

-25

1,434

1,090

-24

-100

-87

June

1,175

1,175

0

1,283

1,175

-8

-108

0

July

1,174

1,166

-1

1,375

1,289

-6

-201

-124

August

1,148

1,081

-6

1,246

1,194

-4

-98

-113

 

Main foreign trade partners of Estonia, August 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, %

TOTAL

1,081

100

-6

TOTAL

1,194

100

-4

EU-27

723

67

-8

EU-27

908

76

-7

Euro area 19

509

47

-8

Euro area 19

673

56

-6

Non-EU and United Kingdom

358

33

-1

Non-EU and United Kingdom

286

24

5

1. Finland

177

16

-10

1. Finland

153

13

-10

2. Sweden

123

11

-7

2. Germany

132

11

5

3. Latvia

108

10

10

3. Lithuania

116

10

-13

4. USA

82

8

3

4. Latvia

116

10

5

5. Lithuania

72

7

4

5. Sweden

105

9

-9

6. Russia

63

6

-12

6. Poland

80

7

-6

7. Germany

59

5

-21

7. Russia

78

7

-14

8. Norway

39

4

-23

8. China

63

5

36

9. Poland

35

3

-1

9. Netherlands

52

4

-9

10. United Kingdom

31

3

53

10. United Kingdom

28

2

10

Exports and imports by commodity section, August 2020
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

TOTAL

1,081

100

-6

1,194

100

-4

-113

Agricultural products and food preparations (I–IV)

101

9

-5

137

11

6

-36

Mineral products (V)

90

8

-27

118

10

-13

-28

Raw materials and products of chemical industry (VI)

57

5

-9

111

9

-4

-54

Articles of plastics and rubber (VII)

38

4

-1

69

6

-6

-31

Wood and articles of wood  (IX)

113

10

8

44

4

-1

69

Paper and articles thereof (X)

27

3

1

21

2

-15

6

Textiles and textile articles (XI)

30

3

-13

55

4

-6

-25

Base metals and articles of base metal (XV)

83

8

-19

109

9

-12

-26

Mechanical appliances (84)

97

9

-5

127

11

5

-30

Electrical equipment (85)

175

16

0

158

13

-6

17

Transport equipment (XVII)

72

7

-10

101

8

-20

-29

Optical, measuring, precision instruments (XVIII)

45

4

18

34

3

19

11

Miscellaneous manufactured articles (XX)

101

9

-2

32

3

-10

69

Other

55

5

1

80

7

24

-25

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

 

For further information:
Kaia-Liisa Tabri
Communications Partner
Marketing and Dissemination Department
Statistics Estonia
Tel +372 507 0521