In August, the imports of goods increased the most
According to Statistics Estonia, in August 2018, the exports of goods increased by 7% and imports by 11% compared to August 2017. The growth in trade was affected the most by an increase in trade in mineral products (fuel additives, motor spirit) and raw materials and products of chemical industry (fertilizers).
In August 2018, exports from Estonia amounted to 1.2 billion euros and imports to Estonia to 1.3 billion euros at current prices. The trade deficit was 155 million euros (in August 2017, it was 96 million euros).
In August 2018, the top destination countries of Estonia’s exports were Finland (17% of Estonia’s total exports of goods), Sweden and Latvia (both 11%). 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 (electricity, fuel additives) and agricultural products and food preparations (raw milk, beer) were the main commodities exported to Latvia. The biggest increase occurred in exports to the USA (up by 4 times, or 58 million euros), Saudi Arabia (up by 13 million euros) and Finland (up by 12 million euros). In exports to the USA, the exports of electrical equipment (data communication equipment) and mineral products increased the most. There was also an increase in the exports of mineral products to Saudi Arabia and wood and articles of wood to Finland. The biggest decrease occurred in exports to Russia (down by 13 million euros), with smaller exports of raw materials and products of chemical industry (caulking compounds and other mastics).
In August, the biggest share in the exports of goods was held by electrical equipment and mineral products (both 15% of the total exports of goods), followed by wood and articles of wood, miscellaneous manufactured articles and mechanical appliances (9% each). The greatest increase was in the exports of mineral products (up by 28 million euros) and mechanical appliances (up by 16 million euros) and raw materials and products of chemical industry (up by 14 million euros).
The share of goods of Estonian origin in total exports was 71% in August 2018. The exports of goods of Estonian origin increased by 4% and re-exports by 14%. In the exports of goods of Estonian origin, the greatest increase was in the exports of mineral products (electricity, heavy oil), wood and articles of wood (coniferous pulpwood, plywood). The share of goods of Estonian origin was largest in the exports of wood and articles of wood (97%), miscellaneous manufactured articles, paper and articles thereof and vegetable fats and oils (92% in each). The share of goods of Estonian origin accounted for 71% of the exports of mineral products and 54% of the exports of raw materials and products of chemical industry.
The main countries of consignment in August 2018 were Finland (12% of Estonia’s total imports of goods), Lithuania and Russia (both 11%). From Finland, mineral products and electrical equipment were imported the most. In imports from Lithuania, mineral products and agricultural products and food preparations had the highest share, while mineral products and raw materials and products of chemical industry were the main commodities imported from Russia. The biggest increase occurred in imports from Russia (imports doubled, or up by 72 million euros), Belarus (up by four times or 26 million euros) and Lithuania (up by 26 million euros), with the imports of mineral products (fuel additives, motor spirit) increasing the most from each country.
The main commodities imported to Estonia were mineral products (16% of Estonia’s total imports of goods), electrical equipment (13%) and mechanical appliances (10%). The greatest increase was in the imports of mineral products (up by 91 million euros) and raw materials and products of chemical industry (up by 23 million euros).In August 2018, the foreign trade export volume index increased by 6% and the import volume index by 4% compared to August 2017.
|Month||Exports, million euros||Imports, million euros||Balance, million euros|
|2017||2018||change, %||2017||2018||change, %||2017||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, %|
|Euro area 19||594||50||6||Euro area 19||738||55||5|
|1. Finland||202||17||6||1. Finland||161||12||7|
|2. Sweden||136||11||-7||2. Lithuania||143||11||22|
|3. Latvia||125||11||8||3. Russia||141||11||-|
|4. USA||77||6||-||4. Germany||134||10||-4|
|5. Lithuania||73||6||4||5. Sweden||111||8||-11|
|6. Germany||72||6||6||6. Latvia||110||8||5|
|7. Russia||69||6||-16||7. Poland||79||6||-3|
|8. Norway||53||4||5||8. Netherlands||72||5||0|
|9. Netherlands||43||4||-14||9. China||54||4||5|
|10. Denmark||32||3||26||10. Belarus||34||3||-|
|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, %|
|Agricultural products and food preparations (I–IV)||91||8||0||132||10||2||-42|
|Mineral products (V)||178||15||19||217||16||73||-39|
|Raw materials and products of chemical industry (VI)||67||6||25||117||9||24||-50|
|Articles of plastics and rubber (VII)||37||3||-2||76||6||6||-40|
|Wood and articles of wood (IX)||113||9||11||49||4||24||64|
|Paper and articles thereof (X)||31||3||10||21||1||-7||10|
|Textiles and textile articles (XI)||34||3||-1||62||5||3||-28|
|Base metals and articles of base metal (XV)||91||8||-2||120||9||8||-29|
|Mechanical appliances (84)||103||9||19||133||10||5||-30|
|Electrical equipment (85)||180||15||-3||172||13||-6||8|
|Transport equipment (XVII)||76||6||19||124||9||2||-48|
|Optical, measuring, precision instruments (XVIII)||35||3||12||31||2||12||5|
|Miscellaneous manufactured articles (XX)||108||9||0||33||2||-6||75|
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 September 2018, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 September 2018. Statistics Estonia published the monthly summary of foreign trade in 13 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.
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