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Trade volumes increased for the fifth month in a row

News
Posted on 9. September 2021 8:00

According to Statistics Estonia, in July, exports of goods increased by 29% and imports by 27% year on year. Trade growth was significantly influenced by the increase in the exports and imports of mineral fuels and base metals and articles of base metal.

In July, Estonia’s exports of goods amounted to 1.5 billion euros and imports to 1.7 billion euros at current prices. The trade deficit was 157 million euros, which is 17 million euros higher than in July 2020.

Evelin Puura, leading analyst at Statistics Estonia, said that the level of foreign trade has changed considerably since March– each month, the value of exports has exceeded 1.4 billion euros and the value of imports has exceeded 1.6 billion euros. “The higher value of trade is due to bigger volumes as well as the rising prices of materials. A similar trend is likely to continue in the near future, as Estonia’s key trade partners reported a more than 10% growth in exports and imports in the first half of the year,” explained Puura.

The main commodities exported in July were mineral fuels, electrical equipment, base metals and articles of base metal, and wood and articles of wood. Compared to July 2020, the biggest increases occurred in the exports of mineral fuels (up by 174 million euros), base metals and articles of base metal (up by 49 million euros) and electrical equipment (up by 38 million euros).

The main partner country for Estonia’s exports of goods was Finland, followed by Latvia and the Netherlands. The biggest increase occurred in exports to the Netherlands and Singapore, with larger dispatches of processed fuel oil. There was also a rise in exports to the USA due to greater exports of telecommunication equipment.

Re-exports from Estonia increased by 20% and exports of domestic goods by 32%. Goods of Estonian origin accounted for 70% of the total exports of goods. In the case of goods of Estonian origin, the biggest rise occurred in the exports of processed fuels, metal waste, coniferous sawn timber and coniferous wood strips.

The main commodities imported to Estonia were mineral fuels, base metals and articles of base metal, machinery and mechanical appliances, electrical equipment and transport equipment. The imports of mineral fuels increased the most (up by 104 million euros), followed by imports of base metals and articles of base metal (up by 76 million euros) and wood and articles of wood (up by 51 million euros).

In July, the top partner countries for Estonia’s imports of goods were Finland, Russia and Germany. The biggest rise was recorded in imports from Russia, Finland and Belarus. There were increased imports of fuel oils and coniferous sawn timber from Russia, electrical energy and motor fuel from Finland, and fuel oils from Belarus.

Estonia's foreign trade by month, 2019–2021
Estonia’s foreign trade by month, 2020–2021
Month Exports, million euros Imports, million euros Balance, million euros
2020 2021 Change, % 2020 2021 Change, % 2020 2021
TOTAL 7,825 9,917 27 8,425 10,939 30 -600 -1,022
January 1,148 1,189 4 1,165 1,305 12 -17 -117
February 1,090 1,258 15 1,212 1,328 10 -122 -69
March 1,235 1,469 19 1,387 1,651 19 -152 -182
April 1,017 1,561 53 1,085 1,639 51 -68 -78
May 1,002 1,471 47 1,094 1,648 51 -92 -177
June 1,170 1,475 26 1,180 1,715 45 -10 -241
July 1,163 1,495 29 1,303 1,652 27 -140 -157
Main foreign trade partners of Estonia, July 2021
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, %
TOTAL 1,495 100 29 TOTAL 1,652 100 27
EU-27 1,015 68 35 EU-27 1,175 71 18
Euro area 19 769 51 37 Euro area 19 896 54 21
Non-EU 480 32 16 Non-EU 477 29 54
1. Finland 201 13 15 1. Finland 224 14 39
2. Latvia 155 10 27 2. Russia 207 13 92
3. Netherlands 119 8 257 3. Germany 164 10 12
4. USA 116 8 58 4. Lithuania 141 9 21
5. Sweden 112 7 23 5. Latvia 134 8 3
6. Lithuania 93 6 19 6. Sweden 113 7 15
7. Germany 92 6 8 7. Poland 101 6 8
8. Russia 61 4 -14 8. Netherlands 65 4 12
9. Poland 55 4 35 9. China 54 3 -16
10. United Kingdom 51 3 -7 10. Belarus 50 3 465
Exports and imports by commodity section, July 2021
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, %
TOTAL 1,495 100 29 1,652 100 27 -157
Agricultural products and food preparations (I–IV) 103 7 -7 147 9 -5 -44
Mineral products (V) 306 20 132 257 16 68 49
Raw materials and products of chemical industry (VI) 74 5 8 142 9 22 -68
Articles of plastics and rubber (VII) 41 3 11 89 5 25 -48
Wood and articles of wood (IX) 135 9 35 95 6 116 40
Paper and articles thereof (X) 30 2 36 26 2 26 5
Textiles and textile articles (XI) 32 2 1 53 3 7 -21
Base metals and articles of base metal (XV) 141 9 52 193 12 65 -52
Machinery and mechanical appliances (84) 114 8 8 172 10 29 -58
Electrical equipment (85) 223 15 21 169 10 1 54
Transport equipment (XVII) 104 7 18 165 10 18 -61
Optical, measuring, precision instruments (XVIII) 34 2 -22 28 2 -15 6
Miscellaneous manufactured articles (XX) 106 7 14 43 3 30 64
Other 53 4 -3 74 3 6 -22

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:

Kadri Kütt
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181

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