Statistics: Exports decreased in July while imports increased
Estonian exports decreased by two percent in July while goods imported increased by five percent. The amount of exported products of Estonian origin also decreased to its lowest share in recent years.
In July, exports from Estonia amounted to €1.2 billion and imports to Estonia to €1.4 billion at current prices, figures released by Statistics Estonia show. The comparison was made with July 2018.
The exports of mineral products such as shale oil, motor spirit, and fuel additives decreased by nearly half, but the decline was offset by increased exports in other commodity groups. The trade deficit was €211 million, which was €88 million more than in the same period last year.
In July, the top destination countries of Estonia's exports were Finland, Latvia and Sweden.
Electrical equipment, base metals and articles of base metal were the main commodities exported to Finland. Mineral products such as fuel additives, electricity, agricultural products, food preparations (milk and beer) to Latvia. Prefabricated wood buildings, wood and articles of wood such as pulpwood and sawn timber were exported to Sweden.
The biggest decrease occurred in exports of mineral products to Saudi Arabia which was down by €46 million. The biggest increase occurred in exports to Lithuania which were up by €22 million, Denmark which has an increase of €19 million, and Latvia. The biggest increase in exports to Lithuania was in cars and the main increase to Denmark and Latvia was of mineral products.
The biggest share in exports of goods was held by electrical equipment (15 percent of Estonia's total exports), followed by mineral products (12 percent) and mechanical appliances (10 percent).
The biggest impact on the decline in exports came from mineral products which was down by €125 million. The biggest increases were in exports of transport equipment which both has an increased by €26 million.
The exports of goods of Estonian origin decreased by 10 percent compared to July 2018, while re-exports increased by 16 percent. In the exports of goods of Estonian origin, the biggest decrease was in the exports of mineral products and the biggest increase was in mechanical appliances and miscellaneous manufactured articles.
In July, the main countries of consignment were Finland (13 percent of Estonia's total imports), Germany (11 percent) , Lithuania and Russia (both 10 percent).
The main commodities imported were: mineral products and base metals, and articles of base metal from Finland; transport equipment and mechanical appliances from Germany; mineral products, agricultural products and food preparations from Lithuania; and mineral products from Russia.
Imports increased the most from Russia (up by €25 million), Sweden and Finland. From Russia, imports of mechanical appliances, from Sweden of transport equipment, and from Finland of mineral products increased the most.
The main commodities imported to Estonia were mineral products, transport equipment and electrical equipment.
The statistics are based on the questionnaires "Intrastat" and "Exports (sale of fish and crustaceans in foreign waters and ports)", the due dates of which were, respectively, 14 and 15 July 2019, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 21 July 2019.
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Editor: Helen Wright