Analytics, Estonia, Export, Foreign trade , Statistics

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Estonia's July exports up 27% on year

Evelin Puura, Leading Analyst, Enterprise and Agricultural Statistics Department, Statistics Estonia, 10.09.2018.Print version
According to Statistics Estonia, in July 2018, the exports of goods increased by 27% and imports by 18% compared to July 2017. The growth in trade was affected the most by a significant increase in trade in mineral products (fuel additives, shale oil, motor spirit and heavy fuel oils). Mineral products trade increased in both quantity and value, exports tripled and imports doubled.

In July 2018, exports from Estonia amounted to 1.2 bln euros and imports to Estonia to 1.3 bln euros at current prices. The trade deficit was 137 mln euros (in July 2017, it was 186 mln euros).




In July 2018, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports of goods), Sweden, Latvia (both 9%) and the USA (10%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; agricultural products and food preparations (raw milk, beer) and mineral products (electricity, fuel additives) were the main commodities exported to Latvia; electrical equipment and wood and articles of wood were the main commodities exported to Sweden. The biggest increase occurred in exports to the USA (up by 54 mln euros), Finland (up by 47 mln euros), Saudi Arabia (up by 45 mln euros) and Singapore (up by 35 mln 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 Finland, Saudi Arabia and Singapore. The biggest decrease occurred in exports to Sweden (down by 27 mln euros).


In July, the biggest share in the exports of goods was held by mineral products (22% of the total exports of goods), electrical equipment (15%), followed by wood and articles of wood (9%). The greatest increase was in the exports of mineral products (up by 184 mln euros) and wood and articles of wood (up by 13 mln euros) and base metals and articles of base metal (up by 12 mln euros).


The share of goods of Estonian origin in total exports was 71% in July 2018. The exports of goods of Estonian origin increased by 27% and re-exports by 25%. In the exports of goods of Estonian origin, the greatest increase was in the exports of mineral products (oil, shale oil, electricity), wood and articles of wood (birch pulpwood, coniferous sawn timber) and miscellaneous manufactured articles (prefabricated wood buildings).


The main countries of consignment in July 2018 were Finland (13% share of Estonia’s total imports of goods), Germany (11%) and Lithuania (10%). 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 mechanical appliances and transport equipment were the main commodities imported from Germany. The biggest increase occurred in imports from Russia (up by 49 mln euros), Belarus (up by 42 mln euros) and Lithuania (up by 28 mln 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 (15% of Estonia’s total imports of goods), electrical equipment (14%) and mechanical appliances (11%). The greatest increase was in the imports of mineral products (up by 104 mln euros), mechanical appliances (up by 29 mln euros), and base metals and articles of base metal (up by 16 mln euros).


In July 2018, the foreign trade export volume index increased by 23% and the import volume index by 12% compared to July 2017.

 

 

Estonia’s foreign trade by month, 2017–2018

Month

Exports, mln euros

Imports, mln euros

Balance, mln euros

 

2017

2018

change, %

2017

2018

change, %

2017

2018

 

TOTAL

7,287

8,168

12

8,577

9,376

9

-1,290

-1,209

 

January

940

1,029

10

1,350

1,250

-7

-410

-221

 

February

972

1,114

15

1,072

1,203

12

-100

-89

 

March

1,179

1,139

-3

1,321

1,361

3

-142

-222

 

April

1,027

1,192

16

1,212

1,363

12

-185

-171

 

May

1,148

1,240

8

1,300

1,451

12

-153

-210

 

June

1,085

1,266

17

1,199

1,424

19

-114

-158

 

July

938

1,188

27

1,124

1,325

18

-186

-137

 


Main foreign trade partners of Estonia, July 2018

 

Country of destination,
group of countries

Exports,
mln
euros

Share,
%

Change on
same month of
previous year, %

Country of consignment,
group of countries

Imports,
mln
euros

Share,
%

Change on
same month of
previous year, %

 

TOTAL

1,188

100

27

TOTAL

1,325

100

18

 

EU-28

748

63

12

EU-28

1,019

77

11

 

Euro area 19

529

45

18

Euro area 19

742

56

11

 

Non-EU

439

37

64

Non-EU

306

23

49

 

1. Finland

190

16

33

1. Finland

166

13

12

 

2. Sweden

104

9

-21

2. Germany

151

11

18

 

3. Latvia

102

9

8

3. Lithuania

128

10

29

 

4. USA

78

7

-

4. Latvia

109

8

18

 

5. Russia

72

6

-6

5. Russia

107

8

84

 

6. Lithuania

65

5

7

6. Sweden

106

8

16

 

7. Germany

65

5

0

7. Poland

81

6

-6

 

8. Saudi Arabia

47

4

-

8. Netherlands

66

5

-3

 

9. Singapore

40

3

-

9. China

54

4

-1

 

10. Norway

39

3

23

10. Belarus

46

3

-

 

 


Exports and imports by commodity section, July 2018

Commodity section (chapter) by
Combined Nomenclature (CN)

Exports

Imports

Balance,
mln
euros

 

mln
euros

share,
%

change on
same period of
previous year, %

mln
euros

share,
%

change on
same period of
previous year, %

 

TOTAL

1,188

100

27

1,325

100

18

-137

 

Agricultural products and food preparations (I–IV)

89

7

9

128

10

5

-39

 

Mineral products (V)

264

22

-

200

15

-

64

 

Raw materials and products of chemical industry (VI)

59

5

11

112

9

15

-53

 

Articles of plastics and rubber (VII)

34

3

9

69

5

7

-35

 

Wood and articles of wood (IX)

104

9

14

44

3

26

60

 

Paper and articles thereof (X)

30

2

10

22

2

13

7

 

Textiles and textile articles (XI)

30

2

-5

52

4

1

-23

 

Base metals and articles of base metal (XV)

92

8

15

124

9

15

-32

 

Mechanical appliances (84)

90

8

6

148

11

25

-59

 

Electrical equipment (85)

174

15

0

177

14

6

-3

 

Transport equipment (XVII)

70

6

-1

137

10

6

-68

 

Optical, measuring, precision instruments (XVIII)

33

3

23

29

2

13

4

 

Miscellaneous manufactured articles (XX)

84

7

16

31

2

1

53

 

Other

36

3

5

51

4

-11

-15

 

 






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