January exports up 12%, imports 2% on year ({{commentsTotal}})

Transit centre at Muuga Harbour.
Transit centre at Muuga Harbour. Source: (Postimees/Scanpix)

According to information released by Statistics Estonia on Monday, in January 2019, compared to January 2018, the exports of goods increased by 12% and imports by 2%. The growth in exports was broad‑based, the increase occurred in most commodity sections.

In January, exports from Estonia amounted to €1.16 billion and imports to Estonia to €1.28 billion. The trade deficit totalled €119 million, down €99 million on year.

In January, the top destination countries of Estonia's exports were Finland (16% of Estonia's total exports), Sweden and Latvia (both 10%). Electrical equipment and base metals and articles of base metal were the primary commodities exported to Finland; wood and articles of wood and electrical equipment to Sweden; mineral products, and agricultural products and food preparations to Latvia.

The biggest increase occurred in exports to the USA (up by €66 million), Singapore (up by €30 million) and Denmark (up by €18 million). In exports to the US, there was an increase in the exports of data communication equipment, and to Singapore and Denmark, in the exports of mineral products. The biggest decrease occurred in exports to the Netherlands (down by €34 million), where fewer mineral products were dispatched.

The biggest share in exports was made up of electrical equipment (17% of Estonia's total exports), followed by mineral products (14%), and wood and articles of wood (11%). The greatest increase was recorded in the exports of mineral products (up by €37 million), electrical equipment (up by €25 million), mechanical appliances and wood and articles of wood (up by €19 million each).

The share of goods of Estonian origin in total exports was 73% in January. The exports of goods of Estonian origin grew by 11% and re-exports by 14%. In the exports of goods of Estonian origin, the biggest growth was recorded in the exports of electrical equipment (data communication equipment, electrical cabinets), wood and articles of wood (wood pellets, glue-laminated timber, coniferous sawn timber) and mineral products (shale oil, electricity).

The main countries of consignment in January were Finland (12% of Estonia's total imports), Lithuania (11%) and Germany (10%). Mineral products and electrical equipment were the main commodities imported from Finland, while from Lithuania, these were mineral products, and from Germany, transport equipment and mechanical appliances. Imports increased the most from Lithuania (up by €47 million) and China (up by €13 million). Mineral products were imported more from Lithuania and electrical equipment from China. Imports decreased the most from the Netherlands.

The primary commodities imported to Estonia were mineral products (16% of Estonia's total imports), electrical equipment (14%), and transport equipment (10%). The biggest increase was in the imports of mineral products (up by €34 million) and raw materials and products of chemical industry (up by €11 million).

In January 2019, compared to January 2018, the foreign trade export volume index increased by 5% while the import volume index remained steady.

Editor: Aili Vahtla



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