Estonian exports, imports both down in 2014

Ericsson Estonia, the country's largest exporter. Postimees/Scanpix
2/10/2015 12:22 PM
Category: Economy

Estonia exported goods and services worth 12.1 billion euros in 2014, 2 percent less than the previous year, while imports decreased by a percent to 13.7 billion, meaning the trade deficit increased, to 1.6 billion.

The percentage of exports to EU nations remained unchanged at 72 percent, while imports from the union decreased by a point to 83 percent of all imports.

Exports to Sweden, the largest export partner, increased by 5 percent to 2.2 billion euros, followed by Finland (1.8 billion, down 7 percent) and Latvia (1.3 billion, up 2 percent). Russia was fourth with 1.2 billion. That figure decreased by 15 percent. Exports to the United States saw the largest increase, growing 26 percent to 450 million euros.

In the import sector, Finland remained the largest partner with 2.1 billion euros total imports, up 1 point. Germany was second with 1.6 billion (9 percent increase), followed by Sweden (1.5 billion, up 6 percent). Imports from Latvia and the UK decreased the most of the large trading partners, down 10 and 23 percent to 1.2 and 0.45 billion euros respectively.

Electrical equipment topped the export charts by section, increasing by 5 percent to 2.6 billion euros in 2014. Export of mineral products (up 4 percent to 1.3 billion) and agricultural and food products (down 2 points to 1.2 billion) followed. Electrical equipment also topped the import tables, with 2.6 billion, up 7 percent, followed by mineral products (1.8 billion, down 3 percent) and agricultural and food products (down 2 points to 1.5 billion).

Click here for a more detailed report.

J.M. Laats

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