Exports decreased in September by 3 percent compared to the same time period in 2018, figures released by Statistics Estonia show, continuing a downward trend which has lasted for several months.
In the third quarter, defined as July, August, and September, exports decreased by 2 percent, having increased in the first two quarters.
In the third quarter of 2019, exports of goods from Estonia amounted to €3.5 billion and imports to Estonia by nearly €4 billion. The trade deficit was €458 million in the third quarter, which is by €86 million more than in the third quarter of 2018.
In the third quarter, Estonia exported goods to 162 countries and imported goods from 114 countries. During the first nine months of this year, exports of goods increased 2 percent and imports 1 percent compared to the same period last year.
In September, Estonia's exports amounted to €1.19 billion and imports to €1.36 billion at current prices. The trade deficit was €157 million, which is €73 million more than in September 2018.
The top destination countries of Estonia's exports were too Finland which had 17 percent of total exports, Sweden with 10 percent, and Latvia with a total of 9 percent.
The biggest decrease occurred in exports to the USA which were down by €58 million and to Singapore which had a decline of €32 million. However, exports to Denmark increased by €21 million. Exports of electrical equipment decreased to the USA and exports of mineral products decreased to Singapore but increased to Denmark.
The biggest exports from Estonia were electrical equipment, mineral products, agricultural products and food preparations which each amounted to 12 percent of Estonia's total exports.
But, the greatest impact on the decline in exports came from mineral products which were down by €66 million and electrical equipment which were down by €55 million. Exports increased the most for agricultural products and food preparations which increased by €49 million.
Goods of Estonian origin accounted for 72 percent of the total exports of goods. But exports decreased by 2 percent and re-exports by 5 percent compared to September 2018.
The main countries of consignment were Finland which had 13 percent of total imports, and Germany and Lithuania which both received 10%. Imports increased the most from Latvia with an increase of €19 million, Germany up by €18 million and USA up by €14 million. The biggest increases were in imports of mineral products from Latvia (motor spirit), transport equipment (passenger cars) from Germany and electrical equipment from the USA (parts of communication equipment). Imports decreased the most from Russia which were down by €31 million, mainly on account of mineral products.
The main commodities imported to Estonia were electrical equipment and mineral products which were both 12 percent of total imports and mechanical appliances which made up 11 percent of the total. The biggest increase occurred in the imports of agricultural products, food preparations, and raw materials and products of the chemical industry which both increased by €24 million and transport equipment by €21 million. The imports of mineral products declined by €49 million and electrical equipment by €14 million and decreased the most.
Editor: Helen Wright