Imports of goods rose by 9 percent on year to January 2020, whereas exports fell by 1 percent, according to new figures from government agency Statistics Estonia.
While overall exports declined, there was an increase in the exports of agricultural products and food preparations, and in particular, cereals, Statistics Estonia says.
Estonia's exports of goods amounted to €1.14 billion in January and imports to €1.16 billion, at current prices. The trade deficit was €20 million - the smallest deficit in the last seven years.
The top destination countries for exports were Finland, Sweden and Latvia.
The biggest fall occurred in exports to the U.S., which fell by €31 million, Singapore (down by €16 million) and Germany (a fall of €14 million).
The decline in exports came mainly from electrical equipment (down by €32 million) and mechanical appliances (fall of €17 million). Exports increased the most for agricultural products and food preparations (with a rise of €28 million).
In the case of U.S. and Germany, the decline was mostly among electrical equipment, and with Singapore the fall primarily came with mineral products.
In general the most significant exports from Estonia were electrical equipment, mineral products, and wood and wooden items.
Exports increased the most to the Netherlands (up by €40 million), predominantly of mineral products, and Turkey (increase of €24 million, which was mostly made up of agricultural products and food preparations).
Goods of Estonian origin accounted for 72 percent of the total exports of goods. These exports fell by 2 percent, while re-exports of goods made elsewhere remained at the same level as January 2019. Again, the biggest decline occurred for electrical equipment (especially communications equipment), while exports of agricultural products and food preparations (namely wheat) increased the most.
The main countries of origin for imports were Finland, Latvia and Germany.
Imports decreased the most from Lithuania (down by €41 million), Sweden (decreased by €29 million) and Belarus (a fall of €24 million).
Fewer mineral products (fuel) were imported from Lithuania and Belarus, and less electrical equipment (electronic integrated circuits) from Sweden.
The main commodities imported to Estonia were electrical equipment, agricultural products food preparations, and mineral products.
The biggest decrease occurred in the imports of mineral products and electrical equipment, Statistics Estonia says.
Editor: Andrew Whyte