November exports up 18%, imports 15% on year ({{contentCtrl.commentsTotal}})

Estonia's trade deficit fell below €60 million for the first time since January 2015.
Estonia's trade deficit fell below €60 million for the first time since January 2015. Source: Statistics Estonia

According to information released by Statistics Estonia on Wednesday, in November 2018, the exports of goods increased by 18% and imports by 15% on year. The trade deficit was €56 million, dropping under €60 million for the first time since January 2015.

In November 2018, the top destination countries of Estonia's exports were Finland (15% of Estonia's total exports of goods), Sweden (11%) and Latvia (9%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland, while the primary commodities exported to Sweden were miscellaneous manufactured articles and wood and articles of wood, and the main commodities exported to Latvia included mineral products, and agricultural products and food preparations.

The biggest increase occurred in exports to the US (up by €76 million), Singapore (€37 million) and Finland (€20 million). The export of data communication equipment increased the most in exports to the US, while an increase was recorded in the exports of shale oil to Singapore and spruce and birch pulpwood and prefabricated wooden buildings to Finland. The biggest decrease occurred in exports to Germany (down by €20 million).

In November, the biggest share in the exports of goods was held by electrical equipment (16% of the total exports of goods), followed by mineral products (13%), and agricultural products and food preparations (11%). The greatest increase was recorded in the exports of mineral products (up by €91 million), electrical equipment (€29 million), and agricultural products and food preparations (€21 million). The biggest decrease occurred in the exports of transport equipment (down by €24 million).

The share of goods of Estonian origin in total exports of goods was 73% in November 2018. On year, the exports of goods of Estonian origin increased by 21% and re-exports by 10%. In the exports of goods of Estonian origin, the greatest increase was in the exports of mineral products (shale oil, solvent), electrical equipment (data communication equipment), and agricultural products and food preparations (wheat, barley).

Estonia's primary countries of consignment in November 2018 were Finland (13% of Estonia's total imports of goods), Germany (10%), Russia, Lithuania, Latvia and Sweden (9% each). Mineral products, and base metals and articles of base metal were imported the most from Finland, while the top imports from Lithuania and Russia were mineral products. Electrical equipent and transport equipment were imported the most from Germany and Sweden, while the top imports from Latvia included agricultural products and food preparations. The biggest increase occurred in imports from Russia (up by €62 million), Finland (€33 million) and Sweden (up by €20 million), with the import of mineral products increasing the most from Russia and Finland and the import of electrical equipment increasing the most from Sweden.

The primary commodities imported to Estonia included electrical equipment (15% of Estonia's total imports of goods), mineral products (14%) and mechanical appliances, transport equipment, and agricultural products and food preparations (10% each). The greatest increase was in the imports of mineral products (up by €102 million), base metals and articles of base metal (€24 million) and mechanical appliances (€16 million).

In November 2018, the foreign trade export and import volume index increased by 2% compared to November 2017.

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Editor: Aili Vahtla

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