According to information released by Statistics Estonia on Monday, in 2019, compared to 2018, goods exports remained steady and imports decreased by 1 percent. The substantial increase in trade in the first half of the year compensated for the decrease in the second half.
In 2019, Estonia's goods exports totaled €14.4 billion and imports €16.1 billion at current prices.
The trade deficit stood at €1.69 billion, with its decrease due primarily to an increase in the exports of agricultural products and food preparations. The largest deficit was registered in trade in transport equipment and in raw materials and products of the chemical industry. The largest surplus was recorded in trade in wood and articles of wood as well as miscellaneous manufactured articles.
Estonia exported goods to 183 countries and imported goods from 145 countries. A positive foreign trade balance was recorded with 137 countries. The share of European Union countries (including the United Kingdom) in Estonia's total exports was 70 percent and, in total imports, 79 percent. In trade with EU countries, exports increased by 3 percent and imports by 1 percent. Trade in goods with non-EU countries, meanwhile decreased — exports by 8 percent and imports by 7 percent.
The top destination countries of Estonia's exports were Finland, Sweden and Latvia. The biggest increase occurred in exports to Denmark (up by €127 million) and Spain (up by €86 million), where fuels were exported more. Exports decreased the most, meanwhile, to Singapore (down by €178 million) and Latvia (down by €71 million).
Similarly to previous years, the biggest exports from Estonia were electrical equipment, mineral products, and wood and articles of wood. The greatest impact on exports came from agricultural products and food preparations (up by €226 million), transport equipment (up by €142 million) and mechanical appliances (up by €106 million). Exports decreased the most for mineral products (down by €450 million) and electrical equipment (down by €184 million).
Goods of Estonian origin accounted for 71 percent of the total exports of goods. Compared to 2018, their exports decreased by 1 percent and re-exports increased by 3 percent. There was a significant decrease in the exports of mineral products and electrical equipment of Estonian origin. The exports of agricultural products and food preparations increased. The main export countries for goods of Estonian origin were Finland, Sweden and the United States.
The primary countries of consignment in 2019 were Finland, Lithuania and Germany. Imports decreased the most from Belarus (decrease in the export of fuels) and the Netherlands (electrical equipment). Imports increased the most from Sweden (more cars imported), Latvia (increased fuel imports) and Lithuania (more electrical equipment imported).
The main commodities imported to Estonia were mineral products, electrical equipment and transport equipment. The biggest decrease occurred in the imports of mineral products and electrical equipment and the biggest increase in the imports of transport equipment.
In December 2019, the exports of goods from Estonia amounted to €1.1 billion and imports to Estonia to €1.3 billion. On year, exports increased by 1 percent and imports by 3 percent. In December 2019, growth in exports was affected most by cereals and growth in imports by fuels.
Editor: Aili Vahtla