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In the second quarter, trade in services recovered to pre-crisis level

News
Posted on 10. September 2021 9:00

According to Statistics Estonia and Eesti Pank, in the second quarter, Estonia’s exports of services grew by 46% and imports of services by 125% year on year. Exports and imports of services amounted to 1.8 billion euros. Foreign trade in services was affected the most by growth in telecommunications, computer and information services, and transport services.

The trade deficit of foreign trade in services was 46 million euros, which is 454 million euros more than in the second quarter of the previous year.

According to Evelin Puura, leading analyst at Statistics Estonia, following the steep decline in the second quarter of 2020, both exports and imports of services have started to grow and have now reached pre-crisis levels. “The exceptions are travel and construction services: their supply has not yet recovered and remains below the level of the second quarter of 2019,” said Puura.

The most exported services were transport services and other business services as well as telecommunications, computer and information services. Compared to the second quarter of last year, the biggest increase, by 191 million euros, occurred in the exports of transport services, followed by  telecommunications, computer and information services (up by 177 million euros). Freight transport by road and sea was the biggest driver of growth for transportation services exports. Only the exports of construction services fell, by 9 million euros.

The main partner country for exports of services was Finland, to which the main services supplied were transport services, other business services and construction services. Finland was followed by Sweden and Germany. The biggest increases were in exports to Finland and the USA. The exports of processing services grew the most in exports to Finland and computer services in exports to the USA.

The biggest services imports in the second quarter were telecommunications, computer and information services, transport services and other business services. These were also imported the most compared to the same period of the previous year. The imports of telecommunications, computer and information services grew by 696 million euros, the imports of transport services by 121 million euros and the imports of other business services by 115 million euros.

Services were imported the most from Germany, led by telecommunications, computer and information services, transport services and other business services. The next ranking import partners were Finland and Lithuania. Imports grew the most from Germany, by nearly 12 times, driven by increased buying-in of telecommunications, computer and information services.

Estonia's foreign trade in services by quarter, 2017–2021

 

Estonia’s main partners in foreign trade in services, 2nd quarter 2021
Country of destination, group of countries Exports, million euros Share, % Change on same quarter of previous year, % Country ranking in 2020 Country of destination, group of countries Imports, million euros Share, % Change on same quarter of previous year, % Country ranking in 2020
TOTAL 1,792 100 46   KOKKU 1,838 100 125  
EU-27 1,138 64 45   EU-27 1,438 78 161  
Euro area 19 867 48 44   Euro area 19 1,252 68 205  
Non-EU 654 36 49   Non-EU 400 22 50  
1. Finland 303 17 22 1 1. Germany 742 40 1089 3
2. Sweden 154 9 32 2 2. Finland 108 6 17 1
3. Germany 116 6 58 3 3. Lithuania 96 5 68 5
4. USA 111 6 87 6 4. United Kingdom 92 5 82 6
5. United Kingdom 109 6 56 4 5. Latvia 82 4 36 4
6.-7. Latvia 89 5 59 5 6. Sweden 74 4 12 2
6.-7. Lithuania 89 5 37 7 7. Poland 55 3 72 8
8. Russia 76 4 90 10 8. Russia 50 3 44 7
9. Norway 56 3 32 9 9. Ireland 49 3 126 11
10. Switzerland 55 3 20 8 10. USA 41 2 60 10
Exports and imports of services by type of service, 2nd quarter 2021
Type of service (according to EBOPS2010) Exports of services Imports of services Balance, million euros
Million euros Share, % Change on previous year, % Million euros Share, % Change on previous year, %
KOKKU 1,792 100 46 1,838 100 - -46
Manufacturing services on physical inputs owned by others (SA) 83 5 - 25 1 - 58
Maintenance and repair services n.i.e. (SB) 56 3 5 25 1 47 30
Transport (SC) 546 30 54 439 24 38 107
Travel (SD) 101 6 61 106 6 61 -6
Construction (SE) 87 5 -9 27 1 13 61
Insurance and pension services (SF) 5 0 - 8 1 37 -3
Financial services (excl. insurance and pension services) (SG) 20 1 2 26 1 14 -7
Charges for the use of intellectual property n.i.e. (SH) 9 1 - 18 1 65 -9
Telecommunications, computer and information services (SI) 401 22 79 844 46 - -444
Other business services (SJ) 457 26 28 298 16 63 160
Personal, cultural and recreational services (SK) 17 1 7 14 1 - 3
Government goods and services n.i.e. (SL) 10 1 13 7 1 5 4


Statistics Estonia collects and analyses the data of foreign trade in services in cooperation with Eesti Pank, as commissioned by 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.

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