Business and trade department: UK exports to Estonia up over 11 percent to Q3 2023
Exports from the United Kingdom to Estonia rose by over 11 percent on year to late 2023, though imports fell by a similar figure, Britain's Department for Business and Trade (DBT) says.
Total UK exports to Estonia amounted to £478 million (over €557 million) in the four quarters to the end of the third quarter of 2023 (Q3 2023) representing an increase of 11.4 percent, or £49 million (around €57 million) at current prices, compared with the same period a year earlier, ie. the four quarters to the end of Q3 2022.
The DBT's latest factsheet provides statistics on trade and investment between the two countries.
The increase can be seen in the context of sanctions on Russia, whose rationale can be found in the House of Commons Library here.
Meanwhile, UK imports from Estonia amounted to £499 million in the four quarters to the end of Q3 2023 (which represented a fall of 10.3 percent, or £57 million (c. €66.5 million) at current prices, compared with the four quarters to the end of Q3 2022, the DBT says.
Overall total trade in goods and services (exports plus imports) between the UK and Estonia stood at £977 million (over €1.1 billion) in the four quarters to the end of Q3 2023, a fall of 0.8 percent or £8 million (€9.3 million) at current prices, on the four quarters to the end of Q3 2022.
The DBT reports that Estonia was the UK's 92nd largest trading partner in the four quarters through to the end of Q3 2023, accounting for 0.1 percent of UK trade (in 2022, the US was the UK's top trading partner accounting for nearly 21 percent of the total, followed by Germany, the Netherlands and Ireland, all in the 6-7 percent range).
The full DBT UK-Estonia factsheet is here.
The DBT publishes its factsheets on a monthly basis, to present the latest statistics on trade and investment between the UK and Estonia. Sources include the Office for National Statistics (ONS) and HM Revenue and Customs (HMRC), and similar information is published in respect of all trading partner nations.
More broadly, sanctions on Russia, which in money terms amount to around €10 billion, have seen large increases in exports from the UK to other non-sanctioned countries. For instance, car exports to Azerbaijan have risen by around 2,000 percent since the invasion of Ukraine, according to some reports.
--
Follow ERR News on Facebook and Twitter and never miss an update!
Editor: Andrew Whyte
Source: UK Government
