Statistics: Exports fall 6 percent on year to February, imports 2 percent ({{contentCtrl.commentsTotal}})

Estonian foreign trade by month, 2018-2020
Estonian foreign trade by month, 2018-2020 Source: Statistics Estonia

Exports fell by 6 percent on year to February 2020, imports by 2 percent over the same period, according to Statistics Estonia.

Exports from Estonia totalled €1.09 billion, and imports €1.22 billion at current prices.

The top destinations for exports were Finland, followed by Sweden and Latvia.

The biggest fall occurred in exports to Singapore (down by e37 million), the U.S. (down by €36 million) and Turkey (down by €19 million).

The most significant exports were electrical equipment, wood and articles made of wood, plus mineral products, according to Statistics Estonia.

Imports increased the most from Finland (up by €28 million), mostly mineral products including gasoline and diesel fuel.

Falls in processed oil exports to Singapore, communication equipment to the U.S. and cereals to Turkey were also recorded.

Exports increased the most to Mozambique (up by €10 million), where a greater amount of aviation spirit was sent.

Both exports and imports declined the most with non-EU countries.

The year-on-year decline in exports came mainly from mineral products (down by €43 million ), electrical equipment (a €33 million fall), and wood and wooden products (down by €19 million).

The mineral products sector saw its greatest impact from shale oil and electricity.

Electrical equipment was impacted most by communication equipment, with wood and items made of wood affected most by a decrease in exports of wood pellets and pulpwood.

Exports increased the most for chemical industry products (up by €13 million), driven by re-exports of fertilisers.

The trade deficit stood at €132 million and saw a rise of 44 million compared with February 2019.

Imports

The main countries for imports were Finland, Germany and Latvia.

Imports fell the most from Sweden (a fall of €29 million), Israel (down by €22 million) and China (a €14 million fall), the latter mostly resulting from a fall in imports of electrical equipment, likely related to the closure of factories in China related to the coronavirus pandemic.

Primary commodities imported to Estonia were mineral products, raw materials and products from the chemical industry sector, transport equipment, agricultural products and food preparations.

The biggest fall was experienced in electrical equipment imports, and the biggest increase in the imports of raw materials and chemical industry products, namely fertilisers, Statistics Estonia says.

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Editor: Andrew Whyte

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