In May, trade increased

news release no 77

According to Statistics Estonia, in May 2018, the exports of goods increased by 7% and imports by 11% compared to May 2017. The growth in trade in May of this year was broad-based, with increased exports and imports in mineral products.

In May 2018, exports from Estonia amounted to 1.2 billion euros and imports to Estonia to 1.4 billion euros at current prices. The trade deficit was 215 million euros (in May 2017, it was 153 million euros).

In May, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports), Sweden (11%) and Latvia (10%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; electrical equipment and wood and articles of wood were the main commodities exported to Sweden; mineral products (fuel additives, electricity) and transport equipment (motor cars) were the main commodities exported to Latvia. The biggest increase occurred in exports to the USA (up by 38 million euros), Latvia (up by 26 million euros) and Finland (up by 18 million euros). In exports to the USA, the exports of electrical equipment increased. There was also an increase in the exports of mineral products and transport equipment to Latvia and electrical equipment and wood and articles of wood to Finland. The biggest decrease occurred in exports to Sweden (down by 19 million euros).

In May, the biggest share in the exports of goods was held by electrical equipment (16% of the total exports of goods), followed by mineral products (14%) and wood and articles of wood (12%). The greatest increase was in the exports of mineral products (up by 49 million euros) and wood and articles of wood (up by 14 million euros).

The share of goods of Estonian origin in total exports was 71% in May 2018. The exports of goods of Estonian origin increased by 7% and re-exports by 9%. Increased exports in the commodity sections of mineral products (shale oil, fuel additives) and wood and articles of wood (sawn timber, wooden doors, glue-laminated boards) contributed to the increase in the exports of goods of Estonian origin.

The main countries of consignment in May were Finland (13% share of Estonia’s total imports), Sweden (12%) and Germany (10%). The main commodities imported were: mineral products and electrical equipment from Finland, transport equipment and mechanical appliances from Germany, and electrical equipment and transport equipment from Sweden. The biggest increase occurred in imports from Sweden (up by 70 million euros), Belarus (up by 46 million euros, i.e. approximately 11 times) and Russia (up by 24 million euros). Electrical equipment and transport equipment were imported more from Sweden, mineral products (motor spirit, fuel additives) from Belarus and Russia. Imports decreased the most from China and Spain (both down by 13 million euros). Less electrical equipment and mechanical appliances were imported from China and less mineral products from Spain.

The main commodities imported to Estonia were mineral products and electrical equipment (both account for 15% of Estonia’s total imports of goods), transport equipment (12%) and mechanical appliances (10%). The greatest increase was in the imports of mineral products (up by 77 million euros), transport equipment (up by 26 million euros) and electrical equipment (up by 23 million euros).

<br>Estonia’s foreign trade by month, 2016–2018<br>

Estonia’s foreign trade by month, 2017–2018
Month Exports, million euros Imports, million euros Balance, million euros
2017 2018 change, % 2017 2018 change, % 2017 2018
I quarter 5 265 5 717 9 6 254 6 644 6 -990 -928
January 940 1 028 9 1 350 1 252 -7 -410 -223
February 972 1 119 15 1 072 1 205 12 -100 -86
March 1 179 1 142 -3 1 321 1 370 4 -142 -228
April 1 027 1 193 16 1 212 1 370 13 -185 -176
May 1 148 1 234 7 1 300 1 449 11 -153 -215
Main foreign trade partners of Estonia, May 2018
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 1 234 100 7 TOTAL 1 449 100 11
EU-28 861 70 6 EU-28 1 152 80 10
Euro area 19 613 50 14 Euro area 19 795 55 6
Non-EU 373 30 10 Non-EU 297 20 17
1. Finland 201 16 10 1. Finland 187 13 14
2. Sweden 142 11 -12 2. Sweden 179 12 64
3. Latvia 128 10 26 3. Germany 148 10 6
4. Russia 90 7 13 4. Lithuania 138 10 15
5. Lithuania 73 6 9 5. Latvia 116 8 11
6. USA 71 6 113 6. Russia 113 8 26
7. Germany 71 6 -2 7. Poland 86 6 1
8. Norway 40 3 -6 8. Netherlands 76 5 2
9. Belgium 36 3 81 9. Belarus 50 3 -
10. Netherlands 36 3 21 10. China 46 3 -22
Exports and imports by commodity section, May 2018
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 1 234 100 7 1 449 100 11 -215
Agricultural products and food preparations (I–IV) 99 8 -4 137 9 -2 -37
Mineral products (V) 172 14 40 222 15 53 -50
Raw materials and products of chemical industry (VI) 64 5 14 111 8 5 -47
Articles of plastics and rubber (VII) 37 3 2 78 5 5 -41
Wood and articles of wood (IX) 143 12 11 54 4 19 89
Paper and articles thereof (X) 31 3 -1 24 2 -2 7
Textiles and textile articles (XI) 33 3 -1 55 4 -1 -22
Base metals and articles of base metal (XV) 90 7 5 124 9 5 -34
Mechanical appliances (84) 103 8 6 142 10 5 -39
Electrical equipment (85) 195 16 -2 220 15 12 -25
Transport equipment (XVII) 91 7 12 168 12 18 -77
Optical, measuring, precision instruments (XVIII) 35 3 -6 34 2 16 1
Miscellaneous manufactured articles (XX) 103 8 7 33 2 -2 70
Other 36 3 -2 48 3 -13 -11

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 June 2018, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 June 2018. Statistics Estonia published the monthly summary of foreign trade in 14 working days. In the case of the statistical activity “Foreign trade”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.

For further information:

Evelin Puura
Leading Analyst
Enterprise and Agricultural Statistics Department
Statistics Estonia
Tel +372 625 9259

More detailed data have been published in the statistical database and pre-defined tables. Due to rounding, the sum of rows in some tables differ from the sum total of the column.