Export surpasses import of services in most Estonian counties

Modern office buildings in central Tallinn. (Siim Lõvi/ERR)
6/16/2016 12:37 PM
Source: BNS
Category: Business

According to Statistics Estonia data, during the first quarter of 2016, the export of services exceeded import thereof in all Estonian counties except Hiiu and Põlva.

Both the export and import of services were greatest in Harju County, totaling 290 million euros in value.

According to the Bank of Estonia, exports of services during the first quarter totaled 1.1 billion euros and imports 800 million euros at current prices. Compared to the same period last year, exports had declined by 4 percent and imports by 1 percent in value, reported tatistics Estonia.

Business entities operating in Harju County entered the most services. Transport services led the category with 235 million euros’ worth of exports. Other services, including research and development, professional and management consultation, technical, trade- and business-related services accounted for another 133 million euros.

The export of transport services from Harju County had decreased by 9 percent compared to the same period in 2015, however the export of other business services had increased by 5 percent.

While the volume of services exported by business entities based in Tallinn had fallen by 7 percent compared to last year, Tallinn-registered business entities still exported 500 million euros’ worth of services, making up 47 percent of Estonia’s total export thereof.

The second-largest exporter of services by county was Tartu County, which accounted for 65 millions euros of exports, followed by Ida-Viru County, which accounted for 26 million euros. The volume of services exported by business entities in Hiiu County was the smallest, coming in at approximately 1 million euros.

Estonia’s balance of export and import of services ran a surplus of 253 million euros. Harju County ran the greatest surplus at 289.6 million euros, followed by Tartu County at 33.1 million euros, and Ida-Viru County at 16.1 million euros. Hiiu County ran a deficit of 0.5 million euros, while Põlva County came in with a deficit of 1.4 million euros. Business entities not registered to a specific county ran a total deficit of 121.1 million euros.

These statistics were based on data on foreign trade in services collected and processed by the central Bank of Estonia, which Statistics Estonia thereafter linked to administrative units corresponding to business entities based on legal addresses.

Editor: Aili Sarapik

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