April trade growth slows down ({{commentsTotal}})

Shipping containers in Muuga Harbor.
Shipping containers in Muuga Harbor. Source: (Postimees/Scanpix)

According to information released by Statistics Estonia on Friday morning, in April 2017, the export of goods decreased by one percent and imports increased by two percent on year.

A decrease in the exports of electrical equipment significantly contributed to the decline in exports.

In April 2017, exports from Estonia amounted to €1 billion and imports to Estonia to €1.2 billion at current prices. The trade deficit was €189 million, up from €158 million in April 2016.

The top destination countries of Estonia's exports in April wer Finland (16 percent of Estonia's total exports), Sweden (15 percent) and Latvia (nine percent), while the bigget decrease occurred in exports to Sweden (down by €49 million), where less electrical equipment was exported. Exports to Germany, up by €16 million, and the Netherlands, up by €13 million, increased the most. These increases were mainly due to the increased exports of base metals and articles of base metals to Germany and of mineral products, including shale oil, to the Netherlands.

The biggest share in exports was held by electrical equipment, followed by wood and articles of wood, and base metals and articles of base metal. The greatest decrease was in the exports of electrical equipment (down by €56 million). At the same time, growth took place in the exports of mineral products (up by €36 million) and base metals and articles of base metal (up by €23 million).

The share of goods of Estonian origin in total exports was 72 percent in April. In April 2017, the exports of goods of Estonian origin decreased three percent, while re-exports increased by four percent. The fall in the exports of goods of Estonian origin was affected the most by a decrease in the exports of electrical equipment, including communication equipment, and agricultural products and food preparations, including cereals. At the same time, the exports of mineral products, including shale oil and electricity.

The primary countries of consignment in April 2017 were Finland (13 percent of Estonia’s total imports), Germany (11 percent), Lithuania (nine percent), Poland (nine percent) and Sweden (nine percent). The biggest increase occurred in imports from Turkey (up fivefold by €24 million) and Russia (up by €20 million). Primarily transport equipment was imported from Turkey and mineral products from Russia. Imports from the USA decreased the most.

In April, the main commodities imported to Estonia were transport equipment, electrical equipment, mechanical appliances and agricultural products and food preparations. The biggest increase was in the imports of transport equipment and mineral products and the biggest fall occurred in the imports of electrical equipment.

In April 2017, the foreign trade export volume index decreased by 15 percent and the import volume index by four percent compared to the same period of last year.

Editor: Aili Vahtla



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