In November, the trade deficit decreased
According to Statistics Estonia, in November 2018, the exports of goods increased by 18% and imports by 15% compared to November 2017. The trade deficit was 56 million euros. The last time the balance was under 60 million euros was in January 2015.
In November 2018, exports from Estonia amounted to 1.39 billion euros and imports to Estonia to 1.44 billion euros at current prices. The trade deficit was 21 million euros less than in November 2017.
In November 2018, the top destination countries of Estonia’s exports were Finland (15% of Estonia’s total exports of goods), Sweden (11%) and Latvia (9%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; miscellaneous manufactured articles and wood and articles of wood were the main commodities exported to Sweden; mineral products, and agricultural products and food preparations were the main commodities exported to Latvia. The biggest increase occurred in exports to the USA (up by 76 million euros), Singapore (up by 37 million euros) and Finland (up by 20 million euros). In exports to the USA, the exports of data communication equipment increased the most. There was also an increase in the exports of shale oil to Singapore and in the exports of spruce and birch pulpwood and pre-fabricated wooden buildings to Finland. The biggest decrease occurred in exports to Germany (down by 20 million euros).
In November, the biggest share in the exports of goods was held by electrical equipment (16% of the total exports of goods), followed by mineral products (13%), and agricultural products and food preparations (11%). The greatest increase was in the exports of mineral products (up by 91 million euros), electrical equipment (up by 29 million euros), and agricultural products and food preparations (up by 21 million euros). The biggest decrease occurred in the exports of transport equipment (down by 24 million euros).
The share of goods of Estonian origin in total exports of goods was 73% in November 2018. The exports of goods of Estonian origin increased by 21% and re-exports by 10% compared to November 2017. In the exports of goods of Estonian origin, the greatest increase was in the exports of mineral products (shale oil, solvent), electrical equipment (data communication equipment), and agricultural products and food preparations (wheat, barley).
The main countries of consignment in November 2018 were Finland (13% of Estonia’s total imports of goods), Germany (10%), Russia, Lithuania, Latvia and Sweden (9% each). From Finland, mineral products, and base metals and articles of base metal were imported the most. Mineral products were imported the most from Lithuania and Russia, electrical equipment and transport equipment from Germany and Sweden, and agricultural products and food preparations from Latvia. The biggest increase occurred in imports from Russia (up by 62 million euros), Finland (up by 33 million euros) and Sweden (up by 20 million euros). From Russia and Finland, the imports of mineral products, and from Sweden, the imports of electrical equipment increased most.
The main commodities imported to Estonia were electrical equipment (15% of Estonia’s total imports of goods), mineral products (14%) and mechanical appliances, transport equipment, and agricultural products and food preparations (each 10%). The greatest increase was in the imports of mineral products (up by 102 million euros), base metals and articles of base metal (up by 24 million euros) and mechanical appliances (up by 16 million euros).In November 2018, the foreign trade export and import volume index increased by 2% compared to November 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||635||46||6||Euro area 19||798||55||9|
|1. Finland||210||15||10||1. Finland||192||13||21|
|2. Sweden||147||11||9||2. Germany||138||10||4|
|3. Latvia||122||9||9||3. Russia||135||9||85|
|4. USA||114||8||-||4. Lithuania||135||9||15|
|5. Germany||86||6||-19||5. Latvia||134||9||16|
|6. Russia||80||6||-8||6. Sweden||132||9||18|
|7. Lithuania||77||6||10||7. Poland||86||6||-13|
|8. Norway||51||4||11||8. China||60||4||30|
|9. Denmark||38||3||18||9. Netherlands||55||4||-23|
|10. Singapore||38||3||-||10. Italy||44||3||29|
|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)||154||11||16||141||10||2||12|
|Mineral products (V)||187||13||94||207||14||98||-20|
|Raw materials and products of chemical industry (VI)||73||5||17||120||8||-2||-48|
|Articles of plastics and rubber (VII)||38||3||-1||76||5||9||-38|
|Wood and articles of wood (IX)||142||10||15||51||4||12||92|
|Paper and articles thereof (X)||34||3||6||25||2||-4||9|
|Textiles and textile articles (XI)||35||3||1||58||4||4||-23|
|Base metals and articles of base metal (XV)||106||8||24||137||9||22||-30|
|Mechanical appliances (84)||116||8||16||144||10||13||-28|
|Electrical equipment (85)||220||16||15||212||15||8||8|
|Transport equipment (XVII)||79||6||-24||142||10||4||-64|
|Optical, measuring, precision instruments (XVIII)||40||3||2||35||2||17||5|
|Miscellaneous manufactured articles (XX)||115||8||15||39||3||2||76|
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 December 2018, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 December 2018. Statistics Estonia published the monthly summary of foreign trade in 9 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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