Exports exceeded imports for the second month in a row
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.
|Month||Exports, million euros||Imports, million euros||Balance, million euros|
|2019||2020||Change, %||2019||2020||Change, %||2019||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, %|
|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|
|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|
|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|
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.
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