Exports of goods amounted to nearly €1.4 billion in value at current prices; imports to more than €1.6 billion.

The trade deficit stood at €268 million, a rise of €20 million on year.

Commenting on the results, Jane Leppmets, Statistics Estonia spokesperson, said: "In the first half of 2024, exports of goods were down by 11 percent while imports fell by 7 percent."

"The fall in exports in June and in the first six months overall was mainly the result of decreased exports of mineral products, mechanical appliances and transport equipment," Leppmets added.

In the first six months of this year, Estonia's exports of goods totaled nearly €8.6 billion and imports almost €10.2 billion euros at current prices, Statistics Estonia reports.

Exports

Exports of goods of Estonian origin were down by 11 percent on year.

Leppmets said: "The share of goods of Estonian origin in total exports rose by two percentage points compared with June 2023, reaching 65 percent in June this year."

The major commodities exported in June were electrical equipment (15 percent of Estonia's total exports), agricultural products and food preparations (12 percent of the total), transport equipment (10 percent) and wood and articles made of wood (10 percent).

On-year the largest fall was seen in the exports of mineral products (down by €59 million, or 33 percent) and mechanical appliances (down by €46 million euros - 28 percent).

Finland (15 percent of total exports, main export was electrical equipment) was June's top export partner, followed by Latvia (14 percent, mainly mineral products) and Sweden (10 percent, electrical items).

Exports to Finland fell 18 percent (€44 million) on year to June, followed by Singapore (down 98 percent, or €36 million), the U.K. (€33 million, 53 percent down) and Russia (€31 million, 50 percent fall).

Imports

The main commodities imported in June were agricultural products and food preparations (14 percent of Estonia's total imports), electrical equipment (13 percent of the total), and transport equipment (also 13 percent).

The largest fall on-year was registered in the imports of transport equipment (down by €60 million, or a 22 percent fall), mechanical appliances (down €46 million, 24 percent), and base metals and articles of base metal (€28-million / 17 percent drop).

The largest rise was seen in the imports of agricultural products and food preparations, which were up by €12 million (6 percent rise).

In June, the top partner countries for Estonia's imports of goods were Finland (14 percent of total imports, mainly mineral products), Lithuania (11 percent of the total, also mineral products) and Germany (10 percent, mostly transport equipment).

The greatest fall was registered in the imports of goods from Finland (down 20 percent, €60 million), and Germany (down by €55 million, or 24 percent).

Imports of goods from the U.S. showed the biggest increase (up by €23 million), a little over double on year.

From January 202 the import data estimates have been partly replaced retroactively with detailed data from other countries.

The data were first published in the database in the updated form on June 10. 2024.

Statistics Estonia conducted the above survey on behalf of the Ministry of Economic Affairs and Communication.

More detailed information is available from Statistics Estonia's website here, here and here.

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