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Exports exceeded imports for the second month in a row

News
Posted on 10. December 2020 8:00

According to Statistics Estonia, in October 2020, compared to October 2019, the exports of goods increased by 10% and imports decreased by 5%. Of the total exports, the goods of Estonian origin accounted for 75%. Exports to non-EU countries increased by 38%, while exports to EU countries decreased by 2%.

In October, both Estonia’s exports and imports of goods amounted to 1.4 billion euros at current prices. The trade surplus was 27 million euros (in October 2019, the trade deficit was 173 million euros).

Evelin Puura, leading analyst at Statistics Estonia, said that as a result of increased exports of goods of Estonian origin, exports exceeded imports for the second month in a row. “The goods of Estonian origin accounted for three quarters of the total exports, and their dispatches increased by 21% year on year. The growth was driven to a large extent by the exports of communication equipment, processed heavy fuel oils, shale oil and wheat of Estonian origin,” explained Puura.

The biggest exports from Estonia were electrical equipment, agricultural products and food preparations, and mineral products. The biggest decrease occurred for exports of mechanical appliances.

The top destination country of Estonia’s exports was Finland, followed by the USA and Sweden. Exports increased the most to the USA, Netherlands and Germany. Exports to the USA went up 2.4 times, with more communications equipment exported compared to last year. Wheat and refined fuels were exported to the Netherlands, while to Germany, refined fuels and wooden structures were exported and telephones were re-exported. The biggest decrease occurred in exports to Belgium, where less mineral products were exported.

The main commodities imported to Estonia were electrical equipment, mineral products and mechanical appliances. The biggest decreases occurred in the imports of motor fuels and transport equipment and the biggest increase in the imports of mechanical appliances.

The main countries of consignment were Finland, Germany and Latvia. Imports decreased the most from Lithuania and Belarus, with the biggest decline in the imports of motor fuel. The imports of goods increased the most from China on account of the import of electrical equipment.

Estonia's foreign trade by month, 2018–2020
Estonia’s foreign trade by month, 2019–2020
Month Exports, million euros Imports, million euros Balance, million euros
2019 2020 Change, % 2019 2020 Change, % 2019 2020
TOTAL 12,093 11,629 -4 13,464 12,284 -9 -1,371 -655
January 1,158 1,147 -1 1,279 1,162 -9 -121 -16
February 1,163 1,089 -6 1,251 1,210 -3 -88 -121
March 1,239 1,236 0 1,406 1,385 -1 -167 -149
April 1,241 1,017 -18 1,389 1,084 -22 -148 -67
May 1,335 1,002 -25 1,434 1,093 -24 -100 -91
June 1,175 1,171 0 1,283 1,179 -8 -108 -7
July 1,174 1,165 -1 1,375 1,301 -5 -201 -137
August 1,148 1,082 -6 1,246 1,201 -4 -98 -119
September 1,186 1,316 11 1,355 1,292 -5 -169 25
October 1,274 1,403 10 1,447 1,377 -5 -173 27
Main foreign trade partners of Estonia, October 2020
Country of destination, group of countries Exports, million euros Share, % Change on same month of previous year, % Country of consignment, group of countries Imports, million euros Share, % Change on same month of previous year, %
TOTAL 1,403 100 10 TOTAL 1,377 100 -5
EU-27 869 62 -2 EU-27 1,058 77 -6
Euro area 19 623 44 -4 Euro area 19 788 57 -8
Non-EU and United Kingdom 534 38 38 Non-EU and United Kingdom 318 23 -1
1. Finland 200 14 -7 1. Finland 189 14 2
2. USA 159 11 - 2. Germany 149 11 4
3. Sweden 140 10 2 3. Latvia 130 9 -2
4. Latvia 112 8 -3 4. Lithuania 129 9 -23
5. Germany 91 6 27 5. Russia 116 8 8
6. Lithuania 75 5 -12 6. Sweden 106 8 -8
7. Russia 72 5 -14 7. Poland 98 7 11
8. Netherlands 54 4 78 8. China 60 4 42
9. Norway 49 3 -7 9. Netherlands 59 4 -2
10. Denmark 40 3 -7 10. Italy 38 3 -4
Exports and imports by commodity section, October 2020
Commodity section (chapter) by Combined Nomenclature (CN) Exports, million euros Share, % Change on same period of previous year, % Imports, million euros Share, % Change on same period of previous year, % Balance, million euros
TOTAL 1,403 100 10 1,377 100 -5 27
Agricultural products and food preparations (I–IV) 167 12 9 141 10 -1 26
Mineral products (V) 148 11 27 150 11 -26 -2
Raw materials and products of chemical industry (VI) 68 5 -4 125 9 1 -56
Articles of plastics and rubber (VII) 45 3 2 79 6 -1 -33
Wood and articles of wood (IX) 145 10 6 57 4 18 89
Paper and articles thereof (X) 26 2 -15 24 2 -13 2
Textiles and textile articles (XI) 38 3 4 61 4 -5 -23
Base metals and articles of base metal (XV) 96 7 -8 127 9 -6 -32
Mechanical appliances (84) 106 7 -17 145 11 1 -39
Electrical equipment (85) 256 18 67 184 13 15 72
Transport equipment (XVII) 89 6 -5 136 10 -19 -47
Optical, measuring, precision instruments (XVIII) 51 4 14 40 3 9 12
Miscellaneous manufactured articles (XX) 115 8 5 44 3 -12 71
Other 54 4 2 67 5 -1 -13

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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