Foreign Trade Stagnates After 3 Years of Growth

(Postimees/Scanpix)
2/10/2014 3:00 PM
Category: Economy

Export and import figures both decreased slightly last year, ending a three-year run of growth.

The trade deficit grew to 1.4 billion euros, from 1.3 billion in 2012, with last year's exports amounting to 12.3 billion and imports to 13.7 billion euros, Statistics Estonia reported today.

Sweden (17 percent, electrical goods, timber and wood products), Finland (16 percent, electrical goods, furniture) and Russia (11 percent, mechanical equipment, foodstuffs) made up Estonia's three largest export destinations.

Goods traveled to Estonia mostly from Finland (15 percent), Germany (11 percent) and Sweden (10 percent).

The decline in mineral product and metal exports played the biggest part in the stagnation, decreasing 31 and 14 percent respectively, while exports of transport equipment increased 34 percent and exports on the whole by 2 percent last year.

Mineral products also had the biggest impact on imports, recording a 19 percent decrease. Import of timber and wood products, and transport equipment increased the most, both by 12 percent. Imports on the whole decreased by 1 percent in 2013.


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