Exports of services continued to grow in the second quarter
According to Statistics Estonia and Eesti Pank, in the second quarter of 2022, Estonia’s exports of services grew by 32% while imports of services fell by 5% year on year. In the second quarter of this year, Estonia’s exports of services totalled 2.5 billion euros and imports of services 1.8 billion euros.
In the second quarter of 2022, the balance of foreign trade in services was in surplus by 658 million euros – the only period in recent years when the surplus was higher was the fourth quarter of 2021. Just like in the first quarter, the trade surplus was mainly due to increased exports of travel services and decreased imports of telecommunications, computer and information services.
Jane Leppmets, analyst at Statistics Estonia, said that the foreign trade balance of services was positive in both the first and the second quarter, as Estonian enterprises supplied more services to non-residents than they purchased from them. “In trade in services, exports usually exceed imports, which offsets the negative balance of trade in goods,” added Leppmets.
There was an increase in exports of services to both EU countries and non-EU countries. Imports of services from EU countries decreased, mainly due to falling imports from Germany (down by 586 million euros). At the same time, there was a rise in purchases of services from non-EU countries. EU countries accounted for 65% of the total exports of services and for 73% of the total imports of services.
In the second quarter of 2022, the most exported services were transport services, other business services, and telecommunications, computer and information services. Compared to the second quarter of 2021, the biggest increase occurred in the exports of travel services (up by 251 million euros). There was also a rise in the exports of telecommunications, computer and information services (up by 140 million euros), and transport services (up by 112 million euros). A decrease was recorded only in the exports of charges for the use of intellectual property, maintenance and repair services, and manufacturing services.
Finland was again the top partner country for exports of services in the second quarter. The main services supplied to Finland were travel services and transport services. Finland was followed by Sweden, with transport services being the biggest export item, and the USA, where Estonian enterprises exported primarily telecommunications, computer and information services. In the second quarter, the biggest increase occurred in exports to Latvia, with exports of other business services (incl. professional and management consulting services) and travel services increasing the most. The second-biggest increase occurred in exports to Finland (resulting from greater exports of travel and transport services), followed by the Netherlands where Estonian enterprises supplied a greater amount of other business services and transport services.
The main services imported to Estonia in the second quarter were transport services, telecommunications, computer and information services, and other business services. Compared to the second quarter of 2021, the biggest rise occurred in the imports of travel services (up by 163 million euros), transport services (up by 118 million euros) and other business services (up by 98 million euros). The imports of telecommunications, computer and information services underwent the biggest decline (down by 498 million euros), due the high reference base of last year.
The top partner country for imports of services was Finland which mainly supplied transport and travel services to Estonia. Finland was followed by Germany and Lithuania – transport services and other business services were the main types of services supplied by these countries. In the second quarter, the biggest rise was recorded in imports from Ireland, due to increased purchases of other business services, and from Finland, due to greater purchases of transport services.
|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||1,334||53||49||Euro area 19||1,096||60||-18|
|1. Finland||463||19||56||1. Finland||168||9||46|
|2. Sweden||187||7||24||2. Germany||161||9||-78|
|3. USA||162||6||43||3. Lithuania||129||7||26|
|4. Latvia||151||6||64||4. United Kingdom||124||7||37|
|5. Germany||141||6||18||5. Ireland||119||6||108|
|6. United Kingdom||136||5||6||6. Latvia||108||6||33|
|7. Lithuania||127||5||36||7. Sweden||104||6||33|
|8. Netherlands||81||3||53||8. Poland||70||4||4|
|9. Switzerland||69||3||16||9. Netherlands||62||3||38|
|10. Russia||67||3||-22||10. USA||60||3||18|
|Type of service (according to EBOPS 2010)||Exports of services||Imports of services||Balance, million euros|
|Million euros||Share, %||Change on previous year, %||Million euros||Share, %||Change on previous year, %|
|Manufacturing services on physical inputs owned by others (SA)||81||3||-1||26||1||18||55|
|Maintenance and repair services n.i.e. (SB)||53||2||-5||22||1||-19||31|
|Insurance and pension services (SF)||7||0||40||9||0||13||-2|
|Financial services (excl. insurance and pension services) (SG)||27||1||42||33||2||22||-6|
|Charges for the use of intellectual property n.i.e. (SH)||14||1||-33||12||1||0||2|
|Telecommunications, computer and information services (SI)||550||22||34||404||22||-55||145|
|Other business services (SJ)||620||25||16||404||22||32||216|
|Personal, cultural and recreational services (SK)||32||1||68||19||1||36||13|
|Government goods and services (SL)||14||1||8||7||0||0||7|
Statistics Estonia collects and analyses the data on foreign trade in services in cooperation with Eesti Pank, as commissioned by 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.
For further information:
Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Tel +372 625 9191