Re-exports significantly increased trade in July
According to Statistics Estonia, in July 2022, Estonia’s exports of goods increased by 13% and imports by 22% compared with July 2021. Re-exports from Estonia grew by 43%; exports of domestic goods remained at the same level year on year.
Estonia’s exports of goods amounted to nearly 1.7 billion and imports to 2 billion euros at current prices. The trade deficit was 349 million euros which is twice as high as in July last year – up by 177 million euros year on year.
Evelin Puura, leading analyst at Statistics Estonia, said that, in July 2022, exports were primarily boosted by re-exports, but the exports of goods of Estonian origin remained at the same level as last year. The biggest increase was recorded in the imports and re-exports of mineral fuels, electricity and natural gas. Year on year, export prices have risen by 27% and import prices by 29%. “In July, the top destination for Estonia’s exports was Latvia – in June, it was Finland. The change in the main partner country for exports was mainly due to the re-exports of electricity and also the rising prices of electricity,” explained Puura.
The main commodities exported in July were mineral fuels and electricity, electrical equipment, agricultural products and food preparations, and wood and articles of wood. Compared with July 2021, the biggest increase occurred in the exports of mineral fuels and electricity (up by 123 million euros), agricultural products and food preparations (up by 45 million euros), and machinery and mechanical appliances (up by 24 million euros).
The main partner country for Estonia’s exports of goods was Latvia, followed by Finland and Lithuania. The main commodities exported were electricity and motor cars to Latvia, metal structures and other steel products and electrical equipment to Finland, and mineral fuels and motor cars to Lithuania. The biggest increase occurred in exports to Latvia, Greece and Lithuania. “There were larger dispatches of electricity, flat-rolled products and motor cars to Latvia, and greater exports of mineral fuels to both Greece and Lithuania,” said Puura.
Goods of Estonian origin accounted for 64% of the total exports of goods, down by 7% year on year. The exports of goods of Estonian origin have mainly been affected by the decreased exports of mineral products, base metals and articles of base metal, and parts of transport equipment.
The main commodities imported to Estonia were mineral fuels and electricity, base metals and articles of base metal, transport equipment, electrical equipment, and agricultural products and food preparations. The imports of mineral fuels and electricity increased the most (up by 185 million euros), followed by imports of agricultural products and food preparations (up by 47 million euros) and imports of transport equipment (up by 42 million euros).
The top partner countries for Estonia’s imports of goods were Finland, Lithuania and Germany. The biggest rise was recorded in imports from Finland, Lithuania and Turkey. There were bigger imports of electricity, natural gas and motor fuels from Finland, bigger imports of motor fuels from Lithuania, and greater imports of base metals and articles of base metal (incl. bars and rods of iron, pipes, metal structures) from Turkey.
|Month||Exports, million euros||Imports, million euros||Balance, million euros|
|2021||2022||Change, %||2021||2022||Change, %||2021||2022|
|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||877||52||13||Euro area 19||1,206||59||34|
|1. Latvia||254||15||64||1. Finland||331||16||50|
|2. Finland||223||13||11||2. Lithuania||233||11||66|
|3. Lithuania||127||8||40||3. Germany||197||10||23|
|4. Sweden||117||7||1||4. Russia||185||9||-15|
|5. USA||94||6||-19||5. Latvia||160||8||13|
|6. Germany||86||5||-18||6. Sweden||120||6||6|
|7. Norway||70||4||69||7. Poland||120||6||19|
|8. Russia||69||4||17||8. China||81||4||47|
|9. Greece||56||3||233||9. Netherlands||70||3||11|
|10. Denmark||47||3||18||10. Italy||55||3||15|
|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, %|
|Agricultural products and food preparations (I–IV)||148||9||44||193||10||33||-45|
|Mineral products (V)||429||25||40||452||22||69||-23|
|Raw materials and products of chemical industry (VI)||77||5||4||148||7||4||-71|
|Articles of plastics and rubber (VII)||49||3||19||95||5||7||-46|
|Wood and articles of wood (IX)||145||9||7||74||4||-22||72|
|Paper and articles thereof (X)||36||2||24||32||2||28||4|
|Textiles and textile articles (XI)||32||2||-1||64||3||21||-32|
|Base metals and articles of base metal (XV)||125||7||-11||233||11||20||-108|
|Machinery and mechanical appliances (84)||142||8||21||187||9||7||-46|
|Electrical equipment (85)||215||13||-2||207||10||18||9|
|Transport equipment (XVII)||105||6||-1||210||10||25||-105|
|Optical, measuring, precision instruments (XVIII)||43||2||28||32||2||12||11|
|Miscellaneous manufactured articles (XX)||101||6||-7||45||2||6||56|
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.
For further information:
Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department Statistics Estonia
Tel +372 625 9191