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Positive trends in foreign trade continued in February

News
Posted on 9. April 2021 8:00

According to Statistics Estonia, in February, exports of goods increased by 16% and imports by 10% year on year. The growth in foreign trade was significantly boosted by trade in mineral products and wood and articles of wood.

In February, Estonia’s exports and imports of goods each amounted to 1.3 billion euros at current prices. The trade deficit was 73 million euros, having fallen by 49 million euros compared to February 2020.

Evelin Puura, leading analyst at Statistics Estonia, said that the increase in trade in February was driven by the export of fuels imported for processing, and also by a considerable growth in wood imports. “There was an increase in trade with all of our main export partners. The top destination country of our exports was again Finland, followed by Sweden and Latvia. The main countries of consignment were Finland, Germany and Latvia,” added Puura.

The main commodities exported were mineral products, electrical equipment and wood and articles of wood. Compared to February 2020, the biggest increases occurred in the exports of mineral products (by 117 million euros, meaning a twofold increase) and wood and articles of wood (by 28 million euros). Exports of agricultural products and food preparations decreased the most – by 10 million euros.

The biggest rise was recorded in exports to Saudi Arabia, the USA and India, due to increased exports of processed oils. Exports to Mozambique, Canada and Ukraine fell the most. There were decreased exports of fuels to Mozambique and Canada, and fewer dispatches of excavators to Ukraine.

Goods of Estonian origin accounted for 74% of the total exports of goods. Compared to February 2020, the exports of goods of Estonian origin increased by 24% and their re-exports fell by 3%. The biggest rise occurred in the exports of processed oils, shale oil, wood pellets, wood strips and sawn pine products of Estonian origin, while exports of wheat declined the most.

The main commodities imported to Estonia were mineral products, electrical equipment, transport equipment, and machinery and mechanical appliances. The imports of mineral fuels and wood and articles of wood increased the most, by 66 and 16 million euros, respectively. The imports of raw materials and products of chemical industry decreased the most.

The biggest growth was recorded in imports from Belarus, Germany and Latvia, with oils for processing imported from Belarus and Latvia and motor cars imported from Germany. Imports from the United Kingdom decreased the most, due to a decline in the import of components for the electronics industry.

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 2,237 2,455 10 2,376 2,649 11 -139 -194
January 1,148 1,192 4 1,165 1,313 13 -17 -121
February 1,090 1,263 16 1,212 1,336 10 -122 -73
Main foreign trade partners of Estonia, February 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 1,263 100 16 TOTAL 1,336 100 10
EU-27 826 65 8 EU-27 1,001 75 7
Euro area 19 587 46 7 Euro area 19 766 57 8
Non-EU 436 35 33 Non-EU 335 25 22
1. Finland 180 14 1 1. Finland 184 14 6
2. Sweden 129 10 19 2. Germany 148 11 14
3. Latvia 104 8 8 3. Latvia 137 10 13
4. Germany 88 7 20 4. Russia 124 9 9
5. USA 83 7 44 5. Lithuania 113 8 6
6. Lithuania 67 5 8 6. Sweden 93 7 1
7. Netherlands 63 5 23 7. Poland 85 6 5
8. Russia 58 5 -2 8. Netherlands 54 4 -4
9. Norway 49 4 24 9. Belarus 48 4 -
10. Poland 41 3 13 10. China 45 3 35
Exports and imports by commodity section, February 2021
Commodity section (chapter) by Combined Nomenclature (CN) Balance, million euros Exports, million euros Share, % Change on previous year, % Imports, million euros Share, % Change on previous year, %
TOTAL 1,263 100 16 1,336 100 10 -73
Agricultural products and food preparations (I–IV) 94 7 -9 126 9 -3 -32
Mineral products (V) 233 18 - 213 16 44 19
Raw materials and products of chemical industry (VI) 60 5 -7 112 8 -14 -52
Articles of plastics and rubber (VII) 36 3 3 74 6 13 -39
Wood and articles of wood (IX) 148 12 23 59 5 38 89
Paper and articles thereof (X) 25 2 -2 22 2 9 3
Textiles and textile articles (XI) 32 3 -1 52 4 -4 -20
Base metals and articles of base metal (XV) 119 9 23 124 9 8 -5
Machinery and mechanical appliances (84) 100 8 6 132 10 10 -33
Electrical equipment (85) 153 12 8 139 10 12 14
Transport equipment (XVII) 81 6 3 137 10 3 -56
Optical, measuring, precision instruments (XVIII) 35 3 -10 36 3 19 -1
Miscellaneous manufactured articles (XX) 91 7 -4 40 3 7 51
Other 58 5 19 70 5 12 -11

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.

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. Visualised data of Estonia’s foreign trade can be viewed in Statistics Estonia’s application.

 

For further information:

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

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