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Friday, 29.03.2024, 14:05
Exports and imports increased by 7-8% in Estonia in Q2
In June 2017, exports from Estonia amounted to 1.1
billion euros and imports to Estonia to 1.2 billion euros at current
prices. The trade deficit was 123 million euros (in June 2016, it was 156
million euros).
The top destination countries of Estonia’s exports in
June were Finland (16% of Estonia’s total exports), Sweden (14%) and Latvia
(9%). The biggest increase occurred in exports to the Netherlands (up by 34
million euros), Russia (up by 29 million euros) and Germany (up by 21 million
euros). In exports to the Netherlands, the exports of mineral products (incl.
shale oil), to Russia, the exports of mechanical appliances and to Germany, the
exports of electrical equipment (incl. communication equipment) and metal waste
increased. The biggest decrease occurred in exports to Sweden (down by 30
million euros), where less electrical equipment was exported.
The biggest share in exports was held by electrical
equipment, followed by mineral products, and wood and articles of wood. The
greatest increase was in the exports of mineral products (up by 51 million
euros), mechanical appliances (up by 25 million euros), and wood and articles
of wood (up by 22 million euros). At the same time, the exports of electrical
equipment decreased (down by 48 million euros).
The share of goods of Estonian origin in total exports
was 72% in June. In June 2017, the exports of goods of Estonian origin
increased 8% and re-exports 18%. The rise in the exports of goods of Estonian
origin was affected the most by an increase in the exports of mineral products
(incl. shale oil, electricity) and wood and articles of wood (incl. coniferous
saw-timber, wooden windows and doors).
The main countries of consignment in June 2017 were
Finland (13% of Estonia’s total imports), Germany (11%), Lithuania (9%) and
Sweden (9%). The biggest increase occurred in imports from Sweden (up by 28
million euros), Latvia, the Netherlands and France (all up by 10 million
euros). Imports from Hungary decreased the most.
The main commodities imported to Estonia were
electrical equipment, transport equipment, and agricultural products and food
preparations. The biggest increase was in the imports of transport equipment
and base metals and articles of base metal, and the biggest fall occurred in
the imports of electrical equipment.
In the 2nd quarter of 2017, exports of goods from
Estonia amounted to 3.3 billion euros and imports to Estonia to 3.7 billion
euros. The trade deficit in the 2nd quarter was 447 million euros (in the 2nd
quarter of 2016, it was 460 million euros). In the first half-year, exports of
goods increased by 10% and imports by 11% compared to the same period of the
previous year.
In the 2nd quarter of 2017, the growth in exports
compared to the same period of the previous year was supported by increased
exports of mineral products (up by 141 million euros), wood and articles of
wood (up by 47 million euros), and base metals and articles of base metal (up
by 37 million euros), which also compensated for the decline in the exports of
electrical equipment (down by 83 million euros). In the comparison by
countries, exports have increased the most to Russia, the Netherlands and
Germany. At the same time, exports to Sweden have decreased the most.
In the 2nd quarter, the growth in imports was
significantly affected by an increase in the imports of transport equipment (up
by 101 million euros), mineral products (up by 70 million euros) and raw
materials and products of chemical industry (up by 45 million euros). The
imports of electrical equipment decreased significantly (down by 73 million
euros). By countries, imports in the 2nd quarter of 2017 compared to the 2nd
quarter of 2016 grew the most from Russia, Sweden and Turkey. Imports from Hungary
decreased the most.
Estonia’s foreign trade by month, 2016–2017
Month |
Exports,
million euros |
Imports,
million euros |
Balance,
million euros |
|||||||||||
2016 |
2017 |
change, % |
2016 |
2017 |
change, % |
2016 |
2017 |
|||||||
1st half
year |
5,799.8 |
6,379.2 |
10 |
6,708.2 |
7,459.9 |
11 |
-908.4 |
-1,080.7 |
||||||
January |
823.7 |
942.9 |
14 |
978.9 |
1,351.2 |
38 |
-155.2 |
-408.3 |
||||||
February |
918.9 |
974.3 |
6 |
1,058.4 |
1,073.7 |
1 |
-139.5 |
-99.4 |
||||||
March |
1,033.0 |
1,190.7 |
15 |
1,186.3 |
1,316.8 |
11 |
-153.3 |
-126.1 |
||||||
1st
quarter |
2,775.6 |
3,107.8 |
12 |
3,223.6 |
3,741.7 |
16 |
-448.0 |
-633.8 |
||||||
April |
1,048.4 |
1,032.1 |
-2 |
1,206.0 |
1,211.1 |
0 |
-157.6 |
-179.0 |
||||||
May |
998.5 |
1,158.3 |
16 |
1,145.3 |
1,303.3 |
14 |
-146.7 |
-145.1 |
||||||
June |
977.3 |
1,081.0 |
11 |
1,133.3 |
1,203.8 |
6 |
-156.1 |
-122.8 |
||||||
2nd
quarter |
3,024.2 |
3,271.4 |
8 |
3,484.6 |
3,718.3 |
7 |
-460.4 |
-446.8 |
||||||
Main foreign trade partners of Estonia, June 2017 |
||||||||||||||
Country of destination, |
Exports, |
Share, |
Change compared to |
Country of consignment, |
Imports, |
Share, |
Change compared to |
|||||||
TOTAL |
1,081.0 |
100 |
11 |
TOTAL |
1,203.8 |
100 |
6 |
|||||||
EU-28 |
778.1 |
72 |
9 |
EU-28 |
1,005.5 |
84 |
6 |
|||||||
Euro area
19 |
533.3 |
49 |
18 |
Euro area
19 |
726.2 |
60 |
9 |
|||||||
Non-EU |
302.9 |
28 |
16 |
Non-EU |
198.3 |
16 |
5 |
|||||||
1. Finland |
170.6 |
16 |
7 |
1. Finland |
151.3 |
13 |
0 |
|||||||
2. Sweden |
149.9 |
14 |
-17 |
2. Germany |
128.2 |
11 |
3 |
|||||||
3. Latvia |
94.6 |
9 |
7 |
3.
Lithuania |
114.3 |
9 |
5 |
|||||||
4. Russia |
89.6 |
8 |
47 |
4. Sweden |
113.9 |
9 |
32 |
|||||||
5. Germany |
71.5 |
7 |
41 |
5. Latvia |
98.0 |
8 |
11 |
|||||||
6.
Lithuania |
64.5 |
6 |
12 |
6. Poland |
80.6 |
7 |
2 |
|||||||
7.
Netherlands |
54.3 |
5 |
- |
7.
Netherlands |
73.4 |
6 |
15 |
|||||||
8. Norway |
41.5 |
4 |
-11 |
8. Russia |
60.1 |
5 |
9 |
|||||||
9. Poland |
25.8 |
2 |
24 |
9. China |
46.7 |
4 |
0 |
|||||||
10. USA |
24.6 |
2 |
-6 |
10. French |
38.6 |
3 |
36 |
|||||||
Exports and imports by commodity section, June 2017 |
||||||||
Commodity section (chapter) |
Exports |
Imports |
Balance, |
|
||||
million |
share, |
change compared to |
million |
share, |
change compared to |
|
||
TOTAL |
1,081.0 |
100 |
11 |
1,203.8 |
100 |
6 |
-122.8 |
|
Agricultural products and food preparations (I–IV) |
90.5 |
8 |
8 |
138.1 |
11 |
8 |
-47.6 |
|
Mineral products
(V) |
120.2 |
11 |
73 |
95.6 |
8 |
1 |
24.6 |
|
Raw materials and products of chemical industry (VI) |
57.1 |
5 |
23 |
103.9 |
9 |
11 |
-46.8 |
|
Articles of plastics and rubber (VII) |
35.8 |
3 |
7 |
71.1 |
6 |
16 |
-35.3 |
|
Wood and articles of wood (IX) |
113.2 |
11 |
24 |
41.7 |
3 |
16 |
71.6 |
|
Paper and articles thereof (X) |
30.2 |
3 |
14 |
24.5 |
2 |
7 |
5.7 |
|
Textiles and textile articles (XI) |
32.7 |
3 |
16 |
50.8 |
4 |
2 |
-18.0 |
|
Base metals and articles of base metal (XV) |
87.1 |
8 |
11 |
118.1 |
10 |
17 |
-31.0 |
|
Mechanical
appliances (84) |
95.4 |
9 |
35 |
124.7 |
10 |
11 |
-29.3 |
|
Electrical
equipment (85) |
181.8 |
17 |
-21 |
172.3 |
14 |
-18 |
9.5 |
|
Transport
equipment (XVII) |
72.2 |
7 |
17 |
141.2 |
12 |
19 |
-69.0 |
|
Optical, measuring, precision instruments (XVIII) |
36.2 |
3 |
5 |
31.4 |
3 |
17 |
4.9 |
|
Miscellaneous
manufactured articles (XX) |
93.0 |
9 |
2 |
32.4 |
3 |
10 |
60.6 |
|
Other |
40 |
4 |
18 |
58 |
4 |
27 |
-18 |
|
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 July 2017, and on
the customs declaration data of the Estonian Tax and Customs Board, which were
sent to Statistics Estonia on 20 July 2017. 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.