Export Growth Above EU Average

Photo: Postimees/Scanpix
9/19/2013 9:18 AM
Category: Economy

Although some economists fear the recent decline of exports may spell another economic downfall, fresh figures from Eurostat show that recent growth in Estonia has been better than in most of the EU.

In the first half of the year, Estonia's export turnover amounted to 6.2 billion euros, growing 2 percent year-on-year in non-seasonally adjusted data. The EU average was 0.75 percent, putting Estonia in 12th place in the EU-28.

Estonia was completely outpaced, though, by its neighbor Lithuania, whose turnover amounted to 11.9 billion euros and increased by 15 percent, growth matched only by the UK in the first half of 2013.

Latvian exports reached a value of 5.2 billion euros and grew 6 percent, giving it the seventh biggest growth rate.

The leading exporter was, of course, Germany. Despite its 0 percent growth, Germany wielded a turnover of 547 billion euros in the first half of the year. Holland had the second highest turnover with 250 billion euros and France the third highest with 221 billion euros.


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