According to Statistics Estonia, imports grew by 3 percent in September 2024 compared to the same month last year. Goods worth €1.5 billion were exported, while €1.7 billion worth of goods were imported at current prices. The trade deficit stood at €208 million, €18 million higher than a year ago.

Statistics Estonia analyst Jane Leppmets highlighted that goods exports increased both in the third quarter and in September. "Although re-exports decreased by 1 percent in September, the overall export growth was positively influenced by a 4 percent rise in the export of goods of Estonian origin," explained Leppmets. The share of these goods increased by 1 percentage point year-over-year, accounting for 64 percent of total exports.

Trade with non-EU countries saw significant growth. Exports to EU member states decreased, while imports from these countries remained unchanged. However, exports to non-EU countries rose by 21 percent and imports from them grew by 25 percent.

In September, the most exported goods included electrical equipment, agricultural products and foodstuffs, as well as wood and wood products. Compared to the same period last year, exports of electrical equipment increased the most, by €37 million, followed by agricultural products and foodstuffs, which grew by €25 million. Meanwhile, the export of mineral products saw the largest decline, decreasing by €26 million.

In September, Estonia's primary export partners were Finland and Latvia. Exports to Finland predominantly consisted of electrical equipment, while mineral products were the top export to Latvia. The largest growth in exports was seen with the United States, increasing by €34 million, or 90 percent, followed by Singapore, with an increase of €29 million, or a 15-fold rise, and Finland, with an increase of €18 million, or 8 percent.

Exports to the U.S. primarily included more electrical equipment than in the previous year, while mineral products saw increased exports to both Singapore and Finland. The largest declines in exports were observed in Latvia and the Netherlands.

In terms of imports in September, electrical equipment, transport vehicles and agricultural products and foodstuffs topped the list. Year-over-year, the import of electrical equipment, raw materials and products from the chemical industry and transport vehicles into Estonia saw the most significant increases. Conversely, the import of mineral products saw the largest decline, decreasing by €66 million.

The highest volume of imports in September came from Finland, Latvia and Germany. Imports increased the most year-over-year from Latvia and Poland.

In the third quarter overall, exports of goods grew by 2 percent, while imports remained at the same level compared to the third quarter of the previous year. Goods worth €4.3 billion were exported, while imports totaled €5.1 billion. The trade deficit was €750 million, which is €96 million less than a year earlier.

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