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According to Statistics Estonia and Eesti Pank, in the third quarter of 2023, Estonia’s exports of services grew by 1% and imports by 3% at current prices compared with the same quarter of 2022. Sales of services to non-residents totalled 2.8 billion euros and purchases of services from non-residents amounted to 2.2 billion euros. The balance of foreign trade in services was in surplus by 557 million euros.

Lauri Veski, team lead of consumer price statistics at Statistics Estonia, said that the biggest impact on the consumer price index in 2024 came from price increases related to food and non-alcoholic beverages, which accounted for 23.7% of the total index rise. The prices of food and non-alcoholic beverages rose by 3.2% last year. “Among food products, the biggest rise occurred in the prices of olive oil (44%) and juices and syrups (36.7%). The prices of chocolate also went up significantly (14.5%). On the other hand, there was a considerable decrease in the prices of sugar (18%) and fresh

According to Statistics Estonia and Eesti Pank, in the first quarter of 2024, Estonia’s exports of services grew by 2%, while imports were unchanged from the same period last year. Sales of services to non-residents totalled €2.8 billion and purchases of services from non-residents amounted to €2.2 billion at current prices. The balance of foreign trade in services was in surplus by €595 million, which is €45 million more than a year earlier.

According to Statistics Estonia, exports of goods in 2023 decreased by 16% and imports by 17% compared with the year before. Exports of goods amounted to 18 billion and imports to 21 billion euros at current prices. The trade deficit was 3 million euros, which is 695 million euros lower than in 2022.

According to Statistics Estonia, in May, the consumer price index increased by 0.1% compared with April and by 2.9% compared with May 2023. Goods were 2.6% and services 3.3% more expensive than in May last year.

Helle Bunder, leading analyst at Statistics Estonia, said that the volume of production in manufacturing decreased in 2024 as a whole but there were signs of improvement at the end of the year. “Manufacturing output started to grow in October and November but fell a little in December,” explained Bunder. Last year, production volume declined in two thirds of the 23 manufacturing activities. Looking at the larger industries, there was an increase in output in the manufacture of food products (5.1%), rubber and plastic products (0.7%) and other transport equipment (11.3%), and also in the repair

Jane Leppmets, foreign trade analyst at Statistics Estonia, said that the upward trend in foreign trade, which started in the second half of 2024, continued in January this year. “In intra-EU trade, exports were up by 11% and imports by 9%. In extra-EU trade, the rise was 19% in exports and as much as 57% in imports. Exports to non-EU countries were mainly influenced by greater exports of goods to the United States, and imports from these countries were boosted by increased imports from Turkey,” added Leppmets. In January, the biggest increase occurred in exports of mineral products The main

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 the fourth quarter of 2023, the gross domestic product (GDP) decreased by 2.7% compared with the same period of 2022. The GDP at current prices was 9.9 billion euros in the fourth quarter. In 2023 as a whole, Estonia’s GDP decreased by 3% and amounted to 37.7 billion euros at current prices.

According to Statistics Estonia and Eesti Pank, in the fourth quarter of 2022, Estonia’s exports of services grew by 12% and imports by 25% at current prices compared with the fourth quarter in 2021. Services were sold to non-residents for a total of 3 billion and purchased for 2.2 billion euros. The balance of foreign trade in services was therefore in surplus by 765 million euros in the fourth quarter, which is 125 million euros less than in the same period a year earlier. In 2022 as a whole, exports of services grew by 31% and imports by 19%.