Sweden main trading partner, Russia down

Stefan Löfen and Taavi Rõivas meeting in Stockholm (Ave Tampere/PM's Office)
8/10/2015 1:29 PM
Category: Economy

Sweden has firmly become the top destination country of Estonia's exports, while exports to Russia takes a tumble.

According to latest numbers, 20 percent of Estonia's total exports in June went to Sweden and the trend is upwards. Apart from Sweden, export to Lithuania and the US also increased substantially, while Finland and Latvia remained the second and third largest export partners for Estonia. Main commodities were electrical equipment, followed by mineral and wood products.

But Estonia's trade with Russia has suffered. In first six months of the year, the export to Russia was down by almost 250 million euros, reflecting the Russia's economic sanctions on certain food items from the EU, established after the EU decided to impose travel ban and asset freezes on number of Russian nationals, in response to Ukraine crisis.

The main import partners in June were Finland, Lithuania, and Germany.

In June, exports from Estonia amounted to 1 billion euros and imports to Estonia to 1.2 billion. The trade deficit was 145 million euros.

S. Tambur

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