Exports of goods amounted to nearly €1.6 billion and imports to almost €1.7 billion at current prices. Estonia's trade deficit was €144 million, which is €170 million less than in May last year.

Jane Leppmets, analyst at Statistics Estonia, said that, after a rise in April, foreign trade started to fall again in May, as both the export and import of goods declined. "The biggest contributor was re-exports, which fell by 10 percent in May when compared to the same month in 2023," Leppmets said.

The main commodities exported from Estonia in May were electrical equipment (14 percent of Estonia's total exports), agricultural products and food preparations (11 percent), and wood and articles of wood (11 percent).

The biggest decreases on year to May 2024 were seen in the export of transport equipment (down €49 million, or 25 percent) and mineral products (down €24 million, or 14 percent). The export of agricultural products and food preparations increased the most on year, by €15 million (9 percent).

Exports of goods of Estonian origin were 3 percent lower in May 2024 than a year before. The proportion of goods of Estonian origin among Estonia's total exports  increased by 2 percentage points year on year, accounting for 66 percent in May 2024.

Estonia's top export partner in May 2024 was Finland (15 percent of total exports), followed by Latvia (13 percent) and Sweden (10 percent). The main commodities exported were electrical equipment to Finland and Sweden and mineral products to Latvia.

In comparison with May 2023, the biggest decline occurred in exports of goods to Lithuania (down by €17 million, or 12 percent) and Russia (by €16 million, or 29 percent). The greatest increase was seen in exports to Norway (up by €16 million, or 27 percent) and Germany (by €14 million, or 13 percent).

The main commodities imported in May were agricultural products and food preparations (14 percent of Estonia's total imports), electrical equipment (12 percent), and transport equipment (12 percent).

Compared with May last year, the biggest fall occurred in the imports of mechanical appliances (down by €67 million, or 30 percent), transport equipment (by €56 million, or 22 percent), and electrical equipment (by €41 million, or 16 percent). The largest increase was recorded in the imports of agricultural products and food preparations (up by €26 million, or 12 percent).

Estonia's top partner country for the import of goods in May was Finland (15 percent of total imports), followed by Lithuania, Germany and Latvia (each accounting for 11 percent of total imports).

The main commodities imported were mineral products from Finland and Lithuania, transport equipment from Germany, and agricultural products and food preparations from Latvia. On year, the import of goods decreased most from Finland (down €60 million, or 19 percent), Germany (down €55 million, or 23 percent) and Sweden (down €51 million, or 33 percent), and increased from Belgium (up €14 million, or 37 percent) and Indonesia (up €14 million).

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