Statistics: Services imports, exports recovered to pre-crisis levels

IT specialist (photo is illustrative).
IT specialist (photo is illustrative). Source: (European Parliament/Wikimedia Commons)

Estonia's imports of services grew by 125 percent on year to the second quarter of 2021 (Q2 2021), while exports of services rose by 46 percent, state agency Statistics Estonia reports.

Exports and imports of services together were worth €1.8 billion, the agency says, adding that pre-crisis levels have been re-attained.

Statistics Estonia spokesperson Evelin Puura said: "The exceptions are travel and construction services: their supply has not yet recovered and remains below the level of the second quarter of 2019."

Foreign trade in services was affected the most by growth in telecoms, IT services, and transport services, while the trade deficit of foreign trade in services stood at €46 million, a rise of €454 million on year to Q2 2021.

Both exports and imports of services have recovered and reached pre-crisis levels, Evelin Puura added.

Services foreign trade quarter-by-quarter 2017-2021 Source: Statistics Estonia

Exports of services breakdown

Transport services exports rose most (€191 million), followed by  telecommunications and IT services (up by €177 million).

Freight transport biggest driver of growth for transportation services exports.

The only fall was experienced in exports of construction services fell (by €9 million).

Finland main destination, followed by Sweden and Germany.

Largest increases of services exports were to Finland (especially processing services) and U.S. (IT services primarily).

Imports of services breakdown

Telecommunications, IT services (together €696 million), transport services (€121 million) and other business services (€115 million) saw most growth.

Germany, particularly in telecoms, IT services was primary import partner, and saw a near 12-fold increase on year to Q2 2021.

Finland and Lithuania next-highest services imports partners.

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Editor: Andrew Whyte

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