Foreign Trade Grows Moderately in 2012
Exports grew by 4 percent and imports by 9 percent in 2012, a major change of pace compared to the 37 percent rise in both the year before.
Last year, exports of goods totaled 12.6 billion euros and imports 13.8 billion, setting the nation's trade deficit at 1.2 billion euros, according to figures released by Statistics Estonia today.
Exports to Sweden and Russia outstripped imports by 0.6 billion euros while the biggest deficits were recorded in trade with Germany and Lithuania.
The trade balance remained negative with the EU 27, recording a deficit of 2.7 billion euros. So was the balance with the Eurozone bloc (-1.6 billion) and the other Baltic states (-0.7 billion), while Estonia shippedmore goods to CIS members than it received (+0.4 billion).
Agricultural products and raw materials drove the growth in exports, with a 15 percent increase in each, The biggest category of exports remained machinery and equipment – 29 percent of all exported goods.
Machinery and equipment also made up 29 percent of the nation's imports, with minerals in second position at 15 percent and agricultural products and food at 10 percent. The biggest gainers were transport equipment, up 21 percent, and raw materials (17 percent).
The main trading partners were Sweden, accounting for 16 percent of exports and 10 percent of imports, Finland (15 and 14 percent), Russia (12 and 7 percent) and Latvia (9 and 10 percent).