According to Statistics Estonia, in November 2017 compared to November 2016, the exports of goods increased by 8 percent and imports by 9 percent. The growth in exports and imports was broad-based, a small increase occurred in most commodity sections.
In November 2017, exports from Estonia amounted to €1.2 billion and imports to Estonia to €1.3 billion. The trade deficit was €111 million (in November 2016, it was €94 million).
In November 2017, the top destination countries of Estonia’s exports were Finland (16 percent of Estonia’s total exports), Sweden (12 percent) and Latvia (10 percent). The biggest increase occurred in exports to Latvia (up by €27 million), Saudi Arabia (up by €23 million) and the United States (up by €16 million). In exports to Latvia, the exports of mineral products (fuel additives, electricity) and transport equipment (motor cars) increased. There was also an increase in the exports of agricultural products (barley) to Saudi Arabia and in the exports of electrical equipment (communication equipment) to the United States. The biggest decrease occurred in exports to Sweden (down by €50 million), where less electrical equipment was delivered.
The biggest share in exports was held by electrical equipment, followed by agricultural products and food preparations, and wood and articles of wood. The greatest increase was in the exports of mineral products (up by €17 million), mechanical appliances (up by €16 million), and wood and articles of wood (up by €15 million). The exports of electrical equipment decreased (down by €17 million).
The share of goods of Estonian origin in total exports was 73 percent in November 2017. The exports of goods of Estonian origin grew 8 percent and re-exports 9 percent. The exports of goods of Estonian origin grew the most in the commodity sections of mineral fuels, grain, and wood and articles of wood. Among the main destination countries, the exports of goods of Estonian origin had the highest share (above 90 percent) in exports to Denmark, Sweden and Norway.
The main countries of consignment in November 2017 were Finland (13 percent of Estonia’s total imports), Germany (11 percent), Lithuania (9 percent), Latvia (9 percent) and Sweden (9 percent). The biggest increase occurred in imports from Sweden (up by €25 million), Poland (up by €21 million) and Finland (up by €16 million). Transport equipment (motor cars) was imported the most from Sweden, raw materials and products of chemical industry (medicaments) from Poland and mineral products (electricity) from Finland. Imports from Hungary decreased the most (down by €5 million), with less electrical equipment imported.
The main commodities imported to Estonia were electrical equipment, transport equipment, and agricultural products and food preparations. The biggest increase was in the imports of raw materials and products of chemical industry (up by €31 million), transport equipment (up by €28 million) and mechanical appliances (up by €15 million).
In November 2017, the foreign trade export volume index increased by 4 percent and the import volume index by 20 percent compared to the same period of 2016.
Editor: Dario Cavegn
Source: Statistics Estonia