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Jane Leppmets, foreign trade analyst at Statistics Estonia, said that, in May, the changes in intra-EU trade were marginal – exports were up by 3% and imports down by 1%. “In extra-EU trade, exports of goods decreased by 2% while imports increased by 54% compared with May last year. The latter was influenced by a large-scale transaction in the defence sector,” noted Leppmets. In May, exports to Singapore grew the most and exports to Russia fell the most The main commodities exported in May were electrical equipment (15% of Estonia’s total exports), agricultural products and food preparations

According to Statistics Estonia, in May 2024, Estonia’s exports of goods decreased by 6% and imports by 13% compared with May 2023. Exports of goods amounted to nearly €1.6 billion and imports to almost €1.7 billion at current prices. The trade deficit was €144 million, which is €170 million less than in May last year.

In comparison with May 2024, the producer price index in this year’s May was most affected by price increases in the manufacture of wood and wood products and in the manufacture of food products. Falling prices in the manufacture of fuel oils and in electricity production had the opposite effect on the index. Producer prices increased by 1.1% in manufacturing as a whole and by 4.4% in the manufacture of food products. “Looking at a longer period, i.e. in comparison with May 2023, prices in manufacturing as a whole rose by 0.4%, increasing by 1.5% in the manufacture of food products and by 1.4%