Foreign trade
Foreign trade statistics give an overview of the trade in goods and services between Estonia and other countries. The difference between exports and imports is the foreign trade balance of the country. In foreign trade statistics, goods are recorded on the basis of their movement across the Estonian border and services on the basis of purchase and sale transactions of residents and non-residents.
Foreign trade statistics are published at current prices and provide answers to the following questions:
- what is the total value of foreign trade;
- what is the value of exported and imported goods and services;
- how much are goods and services of Estonian origin exported to European Union countries and third countries;
- to what extent are goods and services purchased from other countries;
- which countries are Estonia’s main export and import partners;
- what is the balance of trade in goods.
The main users of foreign trade data are Eesti Pank (Bank of Estonia), Ministry of Economic Affairs and Communications, Ministry of Foreign Affairs, Ministry of Finance, international organisations Eurostat, UN, OECD, IMF and WTO. Foreign trade data are important for monitoring economic developments in the country and planning economic policy. The statistics are also used in the calculation of the GDP and compiling the balance of payments. Enterprises can use the data for market research purposes.
Exports of goods boosted by domestic products in November
According to Statistics Estonia, in November 2024, Estonia’s exports of goods grew by 3% from a year earlier, whereas imports remained at the same level. Exports of goods amounted to nearly €1.6 billion and imports to €1.7 billion at current prices. The trade deficit was €166 million, which is €53 million less than in November of the previous year.
Exports of services up by 8% in the third quarter
According to Statistics Estonia and Eesti Pank, in the third quarter of 2024, Estonia’s exports of services grew by 8% and imports by 2%. Exports of services totalled €3.2 billion and imports of services €2.4 billion at current prices. The balance of foreign trade in services was in surplus by €751 million, which is €180 million more than a year earlier.
Foreign trade grew in October, exports of goods of Estonian origin up by 17%
According to Statistics Estonia, in October 2024, Estonia’s exports of goods increased by 12% and imports by 10% compared with October 2023. Exports of goods amounted to nearly €1.7 billion and imports to nearly €2 billion at current prices. The trade deficit was €303 million.