In October trade of goods to Sweden increased significantly

news release no 168

According to Statistics Estonia, in October this year compared to October of the previous year, exports of goods grew by 47% and imports by 38% at current prices. Exports to Sweden increased 2.2 times, mainly influenced by the increase in dispatches of machinery and equipment.

In October 2010, exports of goods from Estonia amounted to 13.1 billion kroons (840 million euros) and imports to Estonia to 13.3 billion kroons (850 million euros). The trade deficit amounted to 0.2 billion kroons (10 million euros), which was more than fourfold smaller than in October 2009.

In October, for two months in succession, the first place in Estonia’s export destination countries was held by Sweden (19% of Estonia’s total exports), followed by Finland (16%) and Russia (10%). Compared to October of the previous year, exports to Sweden increased by 1.4 billion kroons (87 million euros). Exports increased significantly also to Finland and Russia. Electrical equipment and furniture were mainly exported to Finland and electrical equipment and paints and varnishes to Russia.

The main countries from where goods were imported to Estonia were Finland (15% of Estonia’s total imports), Germany and Sweden (12% from each). Arrivals from Sweden increased by 0.7 billion kroons (46 million euros) or 79%. Arrivals from Germany also increased significantly. Electrical equipment and oil products were mainly imported from Finland, vehicles and parts thereof and electrical equipment from Germany and Sweden.

In Estonia’s exports the biggest share was held by the commodities of machinery and equipment (a quarter of Estonia’s total exports), mineral products (12%) and agricultural products and food preparations (11%). Exports of machinery and equipment increased nearly twofold compared to October of the previous year. Exports of mineral products (incl. fuels and electricity) and transport equipment also increased significantly (63% and 68%, respectively).

In October the biggest share of Estonia’s imports was also held by machinery and equipment (28% of Estonia’s total imports), mineral products (12%) and agricultural products and food preparations (11%). Compared to October 2009, arrivals of machinery and equipment increased by nearly twofold. Imports of metals and products thereof also increased significantly (76%).

In October compared to September this year, exports and imports of goods decreased by 1%.

In Baltic countries exports of goods increased by a quarter in Latvia and imports by 28% in October 2010 compared to the same month of the previous year. Exports of goods in Lithuania increased by 44% and imports by 38%.

Estonia’s foreign trade, January–October, 2009–2010
Month Exports, million kroons Imports, million kroons Balance, million kroons
2009 2010 change, %   2009 2010 change, % 2009 2010
January 7 270 8 134 12 8 851 8 488 -4 -1 581 -354
February 7 818 9 841 26 8 780 9 547 9 -962 294
March 8 345 9 834 18 9 825 12 560 28 -1 480 -2 726
April 7 728 10 638 38 9 385 10 899 16 -1 657 -261
May 8 165 11 395 40 8 555 12 408 45 -390 -1 013
June 9 550 10 380 9 9 811 11 928 22 -261 -1 548
July 8 251 10 957 33 9 444 11 553 22 -1 193 -596
August 8 120 11 206 38 9 134 12 152 33 -1 014 -946
September 9 428 13 249 41 9 956 13 406 35 -528 -157
October 8 950 13 138 47 9 652 13 302 38 -702 -164

Main foreign trade partners of Estonia, October 2010
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 13 138 100 47 TOTAL 13 302 100 38
EU 9 397 72 48 EU 11 054 83 38
Euro area 3 959 30 27 Euro area 5 270 40 38
CIS 1 801 14 47 CIS 987 7 20
1. Sweden 2 457 19 123 1. Finland 1 953 15 28
2. Finland 2 162 16 27 2. Germany 1 653 12 66
3. Russia 1 377 10 39 3. Sweden 1 633 12 79
4. Latvia 1 144 9 19 4. Latvia 1 361 10 17
5. Germany 738 6 28 5. Poland 976 7 40
6. Lithuania 692 5 70 6. Lithuania 966 7 22
7. Norway 524 4 43 7. Russia 656 5 38
8. USA 362 3 -5 8. Netherlands 490 4 28
9. Netherlands 359 3 35 9. China 433 3 134
10. Denmark 281 2 1 10. Italy 330 2 42

Exports and imports by commodity sections, October 2010
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 13 138 100 47 13 302 100 38 -164
Agricultural products and food preparations (I–IV) 1 441 11 31 1 442 11 15 -1
Mineral products (V) 1 573 12 63 1 537 12 2 36
Raw materials and products of chemical industry (VI) 585 4 8 1 036 8 12 -451
Articles of plastics and rubber (VII) 466 4 36 837 6 34 -371
Wood and products thereof (IX) 1 185 9 37 366 3 12 819
Paper and articles thereof (X) 406 3 34 331 2 3 75
Textiles and products thereof (XI) 446 3 25 657 5 5 -211
Metals and products thereof (XV) 1 033 8 19 1 324 10 76 -291
Machinery and equipment (XVI) 3 314 25 96 3 676 28 89 -362
Transport equipment (XVII) 947 7 68 956 7 82 -9
Miscellaneous manufactured articles (XX) 1 016 8 21 325 2 21 691
Other 725 6 43 818 6 43 -93

The preliminary foreign trade data about October were released by Statistics Estonia on 10th December (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 (http://www.stat.ee/sdb-update?db_update_id=6855).

The data on foreign trade have also been published in euros in the Statistical Database. The letter “Y” has been added to the codes of euro tables and the word “euro” has been added to headings.