In October the trade deficit decreased

news release no 162

According to Statistics Estonia, in October 2010 compared to October 2009, exports of goods from Estonia grew by 47% and imports to Estonia by 38%. Bigger growth in exports compared to imports decreased also the trade deficit.

In October 2010, exports of goods from Estonia amounted to 13.2 billion kroons (843 million euros) and imports to Estonia totalled 13.4 billion kroons (854 million euros). Exports increased by 4.2 billion kroons (271 million euros) and imports by 3.7 billion kroons (237 million euros) compared to October of the previous year. The trade deficit decreased, amounting to 0.2 billion kroons (11 million euros). The deficit decreased fourfold compared to October of the previous year.

The value of goods exported from Estonia to the European Union (EU) countries amounted to 9.4 billion kroons (603 million euros) accounting for 72% of Estonia’s total exports. Exports to the EU countries increased by 48% compared to October of the previous year. Exports to non-EU countries or the so-called third countries increased by 45%.

Imports of goods from the EU countries to Estonia totalled 11.1 billion kroons (710 million euros) with the share of 83% of Estonia’s total imports. Imports from the EU countries increased by 39% compared to October of the previous year. Imports from the third countries increased by 37%.

The trade deficit with the EU countries amounted to 1.7 billion kroons (107 million euros). The surplus of 1.5 billion kroons (96 million euros) was announced in the trade with the third countries.

In October compared to September 2010, exports remained on the same level and imports decreased by 1%.

Estonian foreign trade, January 2009 – October 2010

Diagram: Estonian foreign trade, January 2009 – October 2010

Statistics Estonia releases the first estimates about foreign trade on the 40th day after the end of the reference period. The estimates are revised on the 54th day. On the 28th of December, Statistics Estonia will release a more detailed overview about foreign trade in October. The trade data in euros have been published in the Statistical Database.

For further information:

Dina Kazakova
Head Statistician
Foreign Trade Statistics Service
Statistics Estonia
Tel +372 625 9378

More detailed data have been published in the Statistical Database.