In January, imports declined more than exports
According to Statistics Estonia, in January 2020, compared to January 2019, the exports of goods decreased by 1% and imports by 9%. While overall exports declined, there was an increase in the exports of agricultural products and food preparations, and in particular, cereals.
Estonia’s exports of goods amounted to 1.14 billion euros and imports to 1.16 billion euros at current prices. The trade deficit was 20 million euros, which is the smallest deficit in the last seven years.
The top destination countries of Estonia’s exports were Finland, Sweden and Latvia. The biggest decrease occurred in exports to the USA (down by 31 million euros), Singapore (down by 16 million euros) and Germany (down by 14 million euros). Less electrical equipment was exported to the USA and Germany, and less mineral products to Singapore. Exports increased the most to the Netherlands (up by 40 million euros) and Turkey (up by 24 million euros). More mineral products were dispatched to the Netherlands and more agricultural products and food preparations to Turkey.
The biggest exports from Estonia were electrical equipment, mineral products, and wood and articles of wood. The decline in exports came mainly from electrical equipment (down by 32 million euros) and mechanical appliances (down by 17 million euros). Exports increased the most for agricultural products and food preparations (up by 28 million euros).
Goods of Estonian origin accounted for 72% of the total exports of goods. Their exports decreased by 2% and re-exports remained at the level of January 2019. The biggest decline occurred for electrical equipment (communication equipment), while the exports of agricultural products and food preparations (wheat) increased the most.
The main countries of consignment were Finland, Latvia and Germany. Imports decreased the most from Lithuania (down by 41 million euros), Sweden (down by 29 million euros) and Belarus (down by 24 million euros). Less mineral products (fuel) were imported from Lithuania and Belarus, and less electrical equipment (electronic integrated circuits) from Sweden.
The main commodities imported to Estonia were electrical equipment, agricultural products and food preparations, and mineral products. The biggest decrease occurred in the imports of mineral products and electrical equipment.
| Commodity section (chapter) by Combined Nomenclature (CN) | Exports | Imports | Balance, million euros | ||||
|---|---|---|---|---|---|---|---|
| million euros | share, % | change on same period of previous year, % | million euros | share, % | change on same period of previous year, % | ||
| TOTAL | 1,142 | 100 | -1 | 1,161 | 100 | -9 | -20 |
| Agricultural products and food preparations (I–IV) | 114 | 10 | 33 | 127 | 11 | 8 | -13 |
| Mineral products (V) | 145 | 13 | -8 | 127 | 11 | -40 | 19 |
| Raw materials and products of chemical industry (VI) | 61 | 5 | -2 | 117 | 10 | 1 | -56 |
| Articles of plastics and rubber (VII) | 37 | 3 | 6 | 65 | 6 | -1 | -28 |
| Wood and articles of wood (IX) | 130 | 11 | -1 | 41 | 4 | -4 | 90 |
| Paper and articles thereof (X) | 28 | 2 | -11 | 23 | 2 | 8 | 5 |
| Textiles and textile articles (XI) | 32 | 3 | -2 | 53 | 4 | -6 | -21 |
| Base metals and articles of base metal (XV) | 90 | 8 | 2 | 115 | 10 | 3 | -25 |
| Mechanical appliances (84) | 83 | 7 | -17 | 110 | 9 | -7 | -26 |
| Electrical equipment (85) | 167 | 15 | -16 | 141 | 12 | -22 | 26 |
| Transport equipment (XVII) | 75 | 7 | 10 | 119 | 10 | -5 | -44 |
| Optical, measuring, precision instruments (XVIII) | 38 | 3 | 12 | 30 | 3 | -3 | 8 |
| Miscellaneous manufactured articles (XX) | 96 | 9 | 3 | 37 | 3 | 16 | 60 |
| Other | 47 | 4 | 14 | 59 | 5 | 17 | -13 |
The statistics are based on the questionnaires “Intrastat” and “Exports (sale of fish and crustaceans in foreign waters and ports)”, the due dates of which were, respectively, 14 and 15 February 2020, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 February 2020. Statistics Estonia published the monthly summary of foreign trade in 12 working days. Statistics Estonia performs the statistical activity “Foreign trade” for the Ministry of Economic Affairs and Communications.