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Re-exports significantly increased trade in July

News
Posted on 9. September 2022 8:00

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.

Estonia's foreign trade by month, 2020–2022
Foreign trade in goods
Month Exports, million euros Imports, million euros Balance, million euros
2021 2022 Change, % 2021 2022 Change, % 2021 2022
TOTAL 9,883 12,182 23 10,964 14,280 30 -1,082 -2,098
January 1,190 1,622 36 1,306 1,778 36 -116 -156
February 1,257 1,491 19 1,327 1,780 34 -70 -289
March 1,465 1,997 36 1,653 2,166 31 -188 -169
April 1,536 1,603 4 1,639 2,139 31 -103 -536
May 1,469 1,932 32 1,646 2,221 35 -177 -289
June 1,464 1,844 26 1,720 2,156 25 -256 -311
July 1,503 1,693 13 1,674 2,042 22 -172 -349
Main foreign trade partners of Estonia, July 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, %
TOTAL 1,693 100 13 TOTAL 2,042 100 22
EU-27 1,126 67 10 EU-27 1,524 75 28
Euro area 19 877 52 13 Euro area 19 1,206 59 34
Non-EU 567 33 19 Non-EU 518 25 6
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
Exports and imports by commodity section, July 2022
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 1,693 100 13 2,042 100 22 -349
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
Other 46 3 -13 70 3 -7 -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.

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:

Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department Statistics Estonia
Tel +372 625 9191

 

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