In February, exports of goods declined by 6%

News
Posted on 9 April 2020, 11:00

According to Statistics Estonia, in February 2020, compared to February 2019, the exports of goods decreased by 6% and imports by 2%. Both exports and imports declined the most in respect of countries outside the European Union.

Estonia’s exports of goods amounted to 1.09 billion euros and imports to 1.22 billion euros at current prices. The trade deficit was 132 million euros; it increased by 44 million euros compared to February 2019.

The top destination country of Estonia’s exports was Finland, followed by Sweden and Latvia. The biggest decrease occurred in exports to Singapore (down by 37 million euros), the USA (down by 36 million euros) and Turkey (down by 19 million euros). Heavy processed oil was exported less to Singapore, communication equipment to the USA and cereals to Turkey. Exports increased the most to Mozambique (up by 10 million euros), where more aviation spirit was dispatched.

The biggest exports from Estonia were electrical equipment, wood and articles of wood, and mineral products. The year-on-year decline in exports came mainly from mineral products (down by 43 million euros), electrical equipment (down by 33 million euros), and wood and articles of wood (down by 19 million euros). In the section of mineral products, the greatest impact came from shale oil and electricity; in the section of electrical equipment, from communication equipment; and in the section of wood and articles of wood, from the decrease in exports of wood pellets and pulpwood. Exports increased the most for products of chemical industry (up by 13 million euros), driven by re-exports of fertilisers.

The main countries of consignment were Finland, Germany and Latvia. Imports decreased the most from Sweden (down by 29 million euros), Israel (down by 22 million euros) and China (down by 14 million euros). The main reason for the latter was declined imports of electrical equipment, which might be associated with the closing of Chinese factories due to the new corona virus. Imports increased the most from Finland (up by 28 million euros) on account of mineral products, such as petrol and diesel fuel.

The main commodities imported to Estonia were mineral products, raw materials and products of chemical industry, transport equipment, and agricultural products and food preparations. The biggest decrease occurred in the imports of electrical equipment and biggest increase in the imports of raw materials and products of chemical industry (fertilisers).

Main foreign trade partners of Estonia, February 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 1,089 100 -6 TOTAL 1,221 100 -2
EU-27 758 70 0 EU-27 947 78 2
Euro area 19 546 50 1 Euro area 19 719 59 6
Non-EU and United Kingdom 331 30 -18 Non-EU and United Kingdom 274 22 -15
1. Finland 179 16 1 1. Finland 179 15 19
2. Sweden 109 10 -13 2. Germany 129 11 -5
3. Latvia 98 9 3 3. Latvia 122 10 8
4. Germany 72 7 -9 4. Russia 115 9 1
5. Lithuania 63 6 5 5. Lithuania 107 9 5
6. Russia 60 6 -11 6. Sweden 91 7 -24
7. USA 58 5 -38 7. Poland 82 7 5
8. Netherlands 50 5 6 8. Netherlands 54 4 -3
9. Denmark 44 4 15 9. China 33 3 -29
10. Norway 40 4 -18 10. Italy 33 3 3
Exports and imports by commodity section, February 2020
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 1,089 100 -6 1,221 100 -2 -132
Agricultural products and food preparations (I–IV) 102 9 4 129 11 8 -26
Mineral products (V) 116 11 -27 161 13 5 -45
Raw materials and products of chemical industry (VI) 65 6 25 131 11 12 -66
Articles of plastics and rubber (VII) 35 3 4 67 5 0 -31
Wood and articles of wood (IX) 120 11 -14 43 3 -3 77
Paper and articles thereof (X) 25 2 -1 20 2 -6 5
Textiles and textile articles (XI) 33 3 3 54 4 -6 -21
Base metals and articles of base metal (XV) 96 9 3 114 9 -2 -17
Mechanical appliances (84) 95 9 -7 119 10 -4 -24
Electrical equipment (85) 142 13 -19 123 10 -24 19
Transport equipment (XVII) 81 7 10 130 11 -3 -49
Optical, measuring, precision instruments (XVIII) 39 4 6 31 3 4 9
Miscellaneous manufactured articles (XX) 96 9 -6 38 3 14 58
Other 45 4 5 62 5 -14 -17

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 March 2020, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 March 2020. Statistics Estonia published the monthly summary of foreign trade in 14 working days. Statistics Estonia performs the statistical activity “Foreign trade” for the Ministry of Economic Affairs and Communications.

On the 29th of March, the customer support of Statistics Estonia is not available by phone. Happy holidays!