Statistics: September export turnover peak for year so far ({{contentCtrl.commentsTotal}})

Cargo ship at sea. Picture is illustrative.
Cargo ship at sea. Picture is illustrative. Source: Siim Lõvi /ERR

Exports of goods increased by 11, while and imports fell by 4 percent, on year to September 2020, state agency Statistics Estonia reports.

On year, the third quarter of 2020 (Q3 2020) saw a 1 percent fall in exports and 5 percent fall in imports.

In September, both exports and imports of goods amounted to €1.3 billion at current prices, Statistics Estonia says, and the trade surplus stood at €4 million, a nearly 10-year high.

On year, trade deficit fell by €165 million.

Evelin Puura, leading analyst at Statistics Estonia, said trade was in recovery mode in Q3 2020.

She said: "In September, export turnover was the highest for this year, which had a positive impact on the whole quarter. The main contributors to the growth in exports were electronics industry with communications equipment and agricultural sector with dispatches of cereals."

Exports breakdown

The top destination country of Estonia's exports in September was Finland, followed by Sweden and Latvia.

Exports increased the most to the U.S. and China, where more communications equipment was exported compared with last year.

The biggest fall in exports occurred with those to Denmark and France. Compared with the previous year, less shale oil was exported to Denmark, and less electrical equipment to France.

The largest component of exports from Estonia were electrical equipment, agricultural products and food preparations, wood and articles of wood, and mineral products.

Compared with September 2019, exports of electrical equipment increased by €75 million and the exports of agricultural products and food preparations by €31 million.

The largest fall (of €7 million) occurred in exports of mineral products.

Of the total exports of goods, the goods of Estonian origin accounted for 74 percent.

Exports of these rose by 15 percent and re-exports fell by 1 percent, compared with September last year.

The largest increases took place with exports of communication equipment, barley, wheat, rye and scrap metal, and the biggest fall came in the export of shale oil.

Foreign trade in Estonia by month 2018-2020 Source: Statistics Estonia

 

Imports breakdown

The main countries of consignment were Finland, Germany and Latvia.

Imports fell the most from Russia and Lithuania, with the biggest decline coming in the imports of motor fuel.

Imports of goods increased the most from Poland, arising from the import of buses.

The main commodities imported into Estonia were electrical equipment, transport equipment, mechanical appliances, and agricultural products and food preparations. The biggest falls came in the imports of bulldozers and loaders to be re-exported, and the biggest increase was in the imports of transportation equipment.

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Editor: Andrew Whyte

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