April trade growth up 4 percent on year ({{contentCtrl.commentsTotal}})

April figures saw trade growth continue.
April figures saw trade growth continue. Source: Statistics Estonia

According to information released by Statistics Estonia, in April 2019, the exports and imports of goods increased by 4 percent on year, continuing an increase in growth dating back to the beginning of 2019.

This April, exports from Estonia amounted to €1.2 billion and imports to Estonia to €1.4 billion at current prices. The trade deficit totaled €156 million, which was €11 million euros more than during the same month last year.

In April, the top destination countries of Estonia's exports were Finland (16 percent of Estonia's total exports), Sweden (10 percent) and Latvia (9 percent). The biggest increase occurred in exports to the Netherlands (up by 24 million euros), the U.S. (up by 23 million euros) and Australia (up by 15 million euros). In exports to the Netherlands, the biggest increase occurred in the exports of mineral products (heavy oil, shale oil); to the U.S., in the exports of electrical equipment (communication equipment), and to Australia, in the exports of mineral products (motor spirits).

The biggest decrease occurred in exports to Canada and Norway (both down by €11 million). Exports of miscellaneous manufactured articles (prefabricated wood buildings) were down to Norway, as were exports of electrical equipment (communication equipment) to Canada.

The biggest share in exports of goods was held by electrical equipment (15 percent of Estonia's total exports), followed by mineral products (13 percent), and wood and articles of wood (11 percent). The biggest impact on export growth came from transport equipment (up by €14 million), agricultural products and food preparations (up by €13 million) and electrical equipment (up by €7 million). The biggest decrease occurred in exports of miscellaneous manufactured articles (down by €9 million).

The share of goods of Estonian origin in total exports was 72 percent in April. The exports of goods of Estonian origin and re-exports grew by 4 percent on year. In the exports of goods of Estonian origin, the biggest growth was recorded in the exports of electrical equipment (communication equipment) and mechanical appliances (machinery for earth treatment); the exports of miscellaneous manufactured articles (prefabricated wood buildings, furniture), meanwhile, decreased.

This April, the primary countries of consignment were Finland, Sweden and Germany (all 11 percent of Estonia's total imports). Imports increased the most from Sweden (up by €45 million), boosted by imports of electrical and transport equipment. Imports decreased the most from Finland (down by €34 million), meanwhile, due primarily to a 50 percent decrease in the imports of mineral products (motor spirits, heavy oil).

The main commodities imported to Estonia were electrical equipment (13 percent of Estonia's total imports), transport equipment (12 percent), mineral products and mechanical appliances (both 11 percent). The biggest increase was recorded in the imports of transport equipment (up by €17 million), while the biggest decrease was recorded in the imports of mineral products (down by €20 million).

In April 2019, the foreign trade export volume index decreased by 1 percent and the import volume index by 4 percent on year.

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Editor: Aili Vahtla

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