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Exports and imports increased by 7-8% in Estonia in Q2

Evelin Puura, Statistics Estonia, 09.08.2017.Print version
According to Statistics Estonia, in June 2017, the exports of goods increased by 11% and imports by 6% compared to June 2016. In the second quarter, compared to the 2nd quarter of the previous year, exports grew by 8% and imports by 7%.

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,
group of countries

Exports,
million euros

Share,
%

Change compared to
same month of
previous year, %

Country of consignment,
group of countries

Imports,
million euros

Share,
%

Change compared to
same month of
previous year, %

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)
by 
Combined Nomenclature(CN)

Exports

Imports

Balance,
million euros

 

million
euros

share,
%

change compared to
same period of
previous year, %

million
euros

share,
%

change compared to
same period of
previous year, %

 

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.






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