Exports down 10% in January
Estonia’s exports amounted to €825m in January, imports to €983m at current prices. The last time exports were so small was five years ago. The trade deficit stood at €158m compared to €42m a year ago, Statistics Estonia reported.
Top export partners in January were Sweden (20%), Finland (16%), and Latvia (10%). Exports to most top destination countries were down, most noticeably to Sweden and the USA.
As for goods, electrical equipment was exported the most, followed by wood and wood products, mechanical appliances, and various manufactured articles.
The biggest decrease was in exports of electrical equipment and mineral products.
The share of goods of Estonian origin in exports was 69% in January. Exports of goods of Estonian origin decreased by 12% compared to the previous year. Of the top ten destination countries for exports from Estonia, the share of goods of Estonian origin was biggest for Sweden (87%) and Finland (78%), and smallest to Russia (16%).
Top import partners in January were Finland (14%), Lithuania (12%), and Germany (11%). The biggest increase occurred in imports from Lithuania and Latvia. At the same time, the greatest decrease occurred in imports from Russia (by €23m).
The main commodities imported were electrical equipment, mineral products, agricultural products, food, and mechanical appliances. Import of transport equipment and mineral products increased the most. At the same time, imports of electrical equipment decreased significantly.
In comparison with December 2015 and January 2016, exports of goods decreased 10% and imports 9% respectively.