Trade continued to decline in 2019, with a fall of 10 percent in imports and exports on year to November 2019, according to state agency Statistics Estonia. Trade contracted in most commodity areas.
In November, Estonia's goods exports totaled €1.2 billion and imports €1.3 billion at current prices. The trade deficit was €61 million, remaining approximately at the level of November 2018. Trade declined the most – by nearly a quarter – with non-EU countries.
The top destination countries of Estonia's exports were Finland, Sweden and Latvia. The biggest decrease occurred in exports to the USA (down by €62 million), Singapore (down by €37 million) and Latvia (down by €21 million). Exports increased the most to the Netherlands (up by €32 million), predominantly in fuel sales.
The biggest exports from Estonia came in electrical equipment, agricultural products and food preparations, and wood and articles of wood.
The greatest decline in exports came from electrical equipment (down by €63 million) and mineral products (down by €56 million). Exports increased the most for base metals and articles of base metal (up by €12 million).
Goods of Estonian origin accounted for 74 percent of the total exports of goods. Their exports decreased by 9 percent and re-exports by 13 percent, compared with November 2018. The fall in the exports of these products mainly came from electrical equipment (communications equipment), mineral products (fuel oil) and wood and articles of wood (pulpwood, planed timber).
The main countries of consignment were Finland, Lithuania and Latvia. Imports decreased the most from Russia (down by €63 million), China and Sweden (both down by €23 million), and Finland (down by €22 million). Imports increased the most from India and Lithuania (both up by €13 million). An increase was seen in imports of aircraft components (India) and motor spirits (Lithunia) according to the agency.
The main commodities imported to Estonia were electrical equipment, transport equipment, mineral products, and agricultural products and food preparations. The biggest decrease occurred in the imports of mineral products (down by 60 million euros) and electrical equipment (down by 46 million euros).
The original Statistics Estonia piece including more detailed information is here.
Editor: Andrew Whyte