In August the trade balance was positive with main countries of destination

news release no 126

According to Statistics Estonia, in August 2009 Estonian trade deficit was 1.6 billion kroons. At the same time the trade balance with the five biggest countries of destination was positive (exports exceeded imports).

In August 2009, exports of goods from Estonia totalled 7.7 billion kroons and imports to Estonia 9.3 billion kroons. Both exports and imports declined by 31% compared to the same period of the previous year. The trade balance was positive with such main countries of destination as Finland, Russia, Latvia, Sweden and USA. The biggest trade deficit was announced in the trade with Lithuania (0.8 billion kroons) and Germany (0.4 billion kroons).

In August, the main countries of destination of exports from Estonia were Finland (18% of the total exports), Russia (11%), Latvia (11%) and Sweden (10%). Compared to August of the previous year, the decrease was announced to all the main countries of destination. The biggest decrease in exports was announced in exports to Finland (0.7 billion kroons) and Sweden (0.6 billion kroons).

The main countries from where goods were imported to Estonia in August were Finland and Lithuania (both 16% of the total imports). Compared to August of the previous year, imports of goods from Germany declined the most (1.2 billion kroons), also from Finland and Latvia. Imports from Lithuania and Poland increased.

In August, petroleum products (incl. fuels) and machinery and equipment held the biggest share in Estonia’s total exports with the share of about 16% both. They were followed by metals and products thereof and agricultural products and food preparations. Compared to August of the previous year exports declined in all commodity sections, but the dispatches of machinery and equipment and metals and products thereof declined the most (1 billion kroons both).

In imports, among the commodity sections, the biggest share was held by petroleum products (a quarter of Estonia’s total imports), machinery and equipment and agricultural products and food preparations. Compared to August of 2008 the biggest decrease was announced in the section of machinery and equipment (1.2 billion kroons) and metals and products thereof (1 billion kroons). Only the arrivals of petroleum products increased.

Compared to July 2009, exports of goods from Estonia decreased 7% and imports to Estonia 3%. The decline in exports was mainly caused by the decrease in the exports of machinery and equipment and petroleum products.

The decrease in exports and imports is characteristic of all the EU countries in January–July 2009. The average decline rate in EU countries was 20% in exports and 25% in imports compared to the same period of 2008.

Estonia’s foreign trade, January–August, 2008–2009
Month Exports, million kroons Imports, million kroons Balance, million kroons
2008 2009 change, %   2008 2009 change, % 2008 2009
January 10 154 7 256 -29 13 725 8 835 -36 -3 571 -1 579
February 10 677 7 779 -27 13 641 8 852 -35 -2 964 -1 073
March 10 647 8 274 -22 14 145 9 803 -31 -3 498 -1 529
April 12 332 7 672 -38 15 916 9 326 -41 -3 584 -1 654
May 11 549 8 091 -30 14 507 8 511 -41 -2 958 -420
June 10 862 9 519 -12 14 140 9 929 -30 -3 278 -410
July 10 969 8 297 -24 15 047 9 566 -36 -4 078 -1 269
August 11 142 7 723 -31 13 420 9 300 -31 -2 278 -1 577

Main foreign trade partners of Estonia, August 2009

Country of destination, group of
countries

Exports,
million kroons
Share,
%
Change compared to
same month of previous year,
%
Country of consignment,
group of
countries
Imports,
million kroons
Share,
%
Change compared to
same month of previous year,
%
Total 7 723 100 -31 Total 9 300 100 -31
EU27 5 132 66 -32 EU27 7 207 77 -32
CIS 1 041 13 -36 CIS 1 165 13 -35
1. Finland 1 361 18 -33 1. Finland 1 190 13 -36
2. Russia 876 11 -31 2. Lithuania 1 185 13 15
3. Latvia 839 11 -29 3. Germany 871 9 -57
4. Sweden 799 10 -44 4. Latvia 822 9 -43
5. USA 524 7 -11 5. Russia 820 9 -10
6. Germany 457 6 -1 6. Sweden 734 8 -45
7. Lithuania 424 5 -30 7. Poland 637 7 20
8. Norway 280 4 -11 8. Netherlands 348 4 -5
9. Denmark 277 4 -22 9. Denmark 281 3 2
10. Niger 254 3 - 10. Belarus 279 3 -58

Exports and imports by commodity sections, August 2009
Commodity section by
Combined Nomenclature (CN)
Exports Imports Balance,
million
kroons
million
kroons
share,
%
change compared to same month
of previous year,
%
million
kroons
share,
%
change compared to
same month of previous year,
%
TOTAL 7 723 100 -31 9 300 100 -31 -1 577
Agricultural products and food preparations (I–IV) 765 10 -12 1 146 12 -28 -381
Mineral products (V) 1 259 16 -4 2 371 25 5 -1 112
Raw materials and products of chemical industry (VI) 478 6 -18 872 9 -11 -394
Articles of plastics and rubber (VII) 279 4 -26 528 6 -26 -249
Wood and products thereof (IX) 630 8 -26 265 3 -14 365
Paper and articles thereof (X) 275 4 -14 224 2 -25 51
Textiles and products thereof (XI) 363 5 -23 537 6 -28 -174
Metals and products thereof (XV) 768 10 -57 695 8 -59 73
Machinery and equipment (XVI) 1 257 16 -44 1 492 16 -45 -235
Transport equipment (XVII) 467 6 -43 445 5 -56 22
Miscellaneous manufactured articles (XX) 669 9 -17 215 2 -32 454
Other 513 6 -27 510 6 -33 3

The preliminary foreign trade data about August were released by Statistics Estonia on the 12th of October (on the 40th day after the end of the reference period). This news release provides the revised data and offers a more detailed overview of trade about the month under observation.

For further information:

Riina Kerner
Analyst
Foreign Trade Statistics Service
Statistics Estonia
Tel +372 625 9377

More detailed data have been published in the Statistical Database.