Analytics, Estonia, Foreign trade , Statistics
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Friday, 29.03.2024, 02:25
Estonia's August exports up 7% on year
In August
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 155 mln euros (in
August 2017, it was 96 mln 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 mln euros), Saudi
Arabia (up by 13 mln euros) and Finland (up by 12 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 Saudi Arabia and wood and articles of wood to Finland.
The biggest decrease occurred in exports to Russia (down by 13 mln 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 mln euros) and mechanical appliances (up by 16 mln euros) and raw materials
and products of chemical industry (up by 14 mln 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 mln
euros), Belarus (up by four times or 26 mln euros) and Lithuania (up by 26
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 (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 mln
euros) and raw materials and products of chemical industry (up by 23 mln
euros).
In August
2018, the foreign trade export volume index increased by 6% and the import
volume index by 4% compared to August 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 |
8,416 |
9,355 |
11 |
9,810 |
10,701 |
9 |
-1,395 |
-1,345 |
|
|
January |
941 |
1,030 |
9 |
1,352 |
1,252 |
-7 |
-412 |
-222 |
|
|
February |
974 |
1,113 |
14 |
1,075 |
1,203 |
12 |
-101 |
-90 |
|
|
March |
1,182 |
1,137 |
-4 |
1,323 |
1,360 |
3 |
-141 |
-224 |
|
|
April |
1,029 |
1,190 |
16 |
1,214 |
1,360 |
12 |
-186 |
-170 |
|
|
May |
1,151 |
1,240 |
8 |
1,305 |
1,442 |
11 |
-154 |
-203 |
|
|
June |
1,089 |
1,265 |
16 |
1,206 |
1,416 |
17 |
-117 |
-151 |
|
|
July |
942 |
1,194 |
27 |
1,130 |
1,325 |
17 |
-188 |
-130 |
|
|
August |
1,109 |
1,187 |
7 |
1,205 |
1,342 |
11 |
-96 |
-155 |
|
|
Main
foreign trade partners of Estonia, August 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 |
1,187 |
100 |
7 |
TOTAL |
1,342 |
100 |
11 |
|
||
EU-28 |
838 |
71 |
5 |
EU-28 |
1,013 |
75 |
2 |
|
||
Euro area 19 |
594 |
50 |
6 |
Euro area 19 |
738 |
55 |
5 |
|
||
Non-EU |
349 |
29 |
13 |
Non-EU |
329 |
25 |
57 |
|
||
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 |
- |
|
Exports
and imports by commodity section, August 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 |
1,187 |
100 |
7 |
1,342 |
100 |
11 |
-155 |
|
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 |
|
Other |
44 |
3 |
-2 |
57 |
4 |
-3 |
-13 |
|