Jane Leppmets, analyst at Statistics Estonia, said that exports of services have never been as high as in the fourth quarter of last year. "Estonian enterprises supplied services to non-residents for more than €3 billion. The balance of foreign trade in services was in surplus by €716 million in the fourth quarter, which helped to cover the deficit in trade in goods," Leppmets added.

The main services exported in the fourth quarter were other business services (incl. other business support services) for €934 million. This was followed by exports of telecommunications, computer and information services (incl. computer programming and consultancy) for €793 million and exports of transport services (incl. road freight transport) for €617 million.

Compared with the fourth quarter of 2022, the biggest increase occurred in the exports of telecommunications, computer and information services, other business services, and travel services. The biggest fall was registered in the exports of transport services.

In the fourth quarter of 2023, Finland was the top partner country for exports of services (16 percent of total exports). The main services supplied to Finland were travel services. Finland was followed by Germany (8 percent), with other business services being the biggest export item, and the United States (8 percent), where Estonian enterprises exported primarily telecommunications, computer and information services.

The most imported services in the fourth quarter were other business services (incl. other business support services), worth €766 million euros, followed by transport services (incl. marine freight) for €607 million, and telecommunications, computer and information services (incl. computer programming and consultancy) for €468 million.

The top partner countries for imports of services in the fourth quarter were Germany, Finland, and Lithuania (each accounting for 8 percent of Estonia's total imports).

In 2023, Estonia's exports of services totaled €11.7 billion and imports €9.1 billion. Other business services, transport services, and telecommunications, computer and information services accounted for the largest shares of both exports and imports. The trade of telecommunications, computer and information services, other business services, and travel services grew the most. The biggest fall was registered in the exports and imports of transport services. Estonia's top partner countries for exports of services in 2023 were Finland, Sweden and Germany, and its main partners for imports were Germany, Finland and Lithuania.

--

Follow ERR News on Facebook and Twitter and never miss an update!