In May, trade increased

According to Statistics Estonia, in May 2019, compared to May 2018, the exports of goods increased by 8% and imports by 3%. The growth in exports of Estonian goods was significantly influenced by increased sales of prefabricated wood buildings.

In May, exports from Estonia amounted to 1.3 billion euros and imports to Estonia to 1.4 billion euros at current prices. The trade deficit was 105 million euros, which was 62 million euros less than in the same period last year.

In May, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports), Sweden (11%) and Latvia (9%). The biggest increase occurred in exports to Spain (up by 34 million euros), the Netherlands (up by 28 million euros) and Norway (up by 24 million euros). In exports to Spain and the Netherlands, the biggest increase occurred in the exports of mineral products (heavy oil, shale oil); and to Norway, in the exports of miscellaneous manufactured articles (prefabricated wood buildings). The biggest decrease occurred in exports to Belgium (down by 17 million euros), where less mineral products were exported.

The biggest share in exports of goods was held by electrical equipment (15% of Estonia’s total exports), followed by mineral products (14%), wood and articles of wood, miscellaneous manufactured articles, and mechanical appliances (each 10%). The biggest impact on export growth came from miscellaneous manufactured articles (up by 28 million euros), mechanical appliances (up by 23 million euros), and base metals and articles of base metal (up by 22 million euros).

The share of goods of Estonian origin in total exports was 74% in May. The exports of goods of Estonian origin grew by 9% and re-exports by 7%, year-on-year. In the exports of goods of Estonian origin, the biggest growth was in the exports of miscellaneous manufactured articles.

In May, the main countries of consignment were Finland (13% of Estonia’s total imports), Germany (11%), Sweden and Lithuania (both 10%). Imports increased the most from Sweden and Lithuania (both up by 15 million euros) and from Russia (up by 11 million euros). From Sweden, imports of electrical equipment, from Lithuania, imports of mineral products, and from Russia, imports of raw materials and products of chemical industry increased the most. Imports decreased the most from Belarus (down by 44 million euros), due to a decrease in the imports of mineral products (motor spirit, heavy oil).

The main commodities imported to Estonia were electrical equipment (13% of Estonia’s total imports), transport equipment and mineral products (both 12%) and mechanical appliances (11%). The biggest increase was in the imports of mechanical appliances, and raw materials and products of chemical industry (both up by 21 million euros) and the biggest decrease in the imports of mineral products (down by 51 million euros).

 

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 June 2019, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 June 2019. Statistics Estonia published the monthly summary of foreign trade in 11 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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