Foreign trade in goods showed signs of picking up in April

News
Posted on 10 June 2024, 8:00

According to Statistics Estonia, in April 2024, exports of goods increased by 3% and imports by 6% compared with April 2023. Exports of goods amounted to more than €1.5 billion and imports to over €1.8 billion at current prices. The trade deficit was €305 million, which is €65 million more than in April last year.

Jane Leppmets, analyst at Statistics Estonia, pointed out that foreign trade in goods grew in April after a long period of time, with exports of goods last increasing in February 2023. “In April this year, trade growth was driven by increases in exports and imports of mineral products and in imports of agricultural products and food preparations. Foreign trade was boosted by reexports, which increased by 11% in April. Exports of goods of Estonian origin were 1% lower,” Leppmets added.

The main commodities exported in April were electrical equipment (14% of Estonia's total exports), agricultural products and food preparations (12%), and wood and articles of wood (11%). Compared with April 2023, the biggest increases were seen in the exports of mineral products (up by €27 million) and electrical equipment and mechanical appliances (by €19 million each). The largest decrease, by €24 million, was recorded in the exports of miscellaneous manufactured articles (incl. prefabricated wooden buildings).

Exports of goods of Estonian origin decreased by 1% in April compared with the same month in 2023. Their share in total exports fell 3 percentage points year on year, accounting for 64% of total exports in April 2024.

Estonia’s top export partners in April were Finland (17% of total exports), Sweden and Latvia (9% each). The main commodities exported were electrical equipment to Finland and Sweden and transport equipment to Latvia. Compared with April 2023, the greatest increase occurred in exports to the USA (up by €39 million), where more mineral products (incl. fuel components) were exported. A decline by €38 million was seen in exports to Latvia, where less mineral products (incl. natural gas) were dispatched.

The main commodities imported in April were agricultural products and food preparations (13% of Estonia's total imports), transport equipment (12%), and electrical equipment (12%). Compared with April 2023, the biggest increase occurred in the imports of agricultural products and food preparations (up by €35 million), mineral products (by €25 million), and raw materials and products of chemical industry (by €22 million). The biggest fall, by €21 million, was seen in the imports of mechanical appliances.

In April, the top partner countries for Estonia’s imports of goods were Germany (13% of total imports), Finland and Latvia (12% each). The main commodities imported were transport equipment from Germany, and mineral products from Finland and Latvia. In comparison with April last year, the biggest rise occurred in imports of goods from Lithuania (up by €38 million) and Germany (by €37 million). The biggest fall, by €32 million, was recorded in imports from Finland.

Estonia's foreign trade by month, 2022–2024
Estonia’s foreign trade by month, 2023–2024

Month

Exports, million euros

Imports, million euros

Balance, million euros

2023

2024

Change, %

2023

2024

Change, %

2023

2024

TOTAL

6,372

5,685

-11

7,160

6,717

-6

-787

-1,032

January

1,555

1,340

-14

1,737

1,599

-8

-182

-259

February

1,586

1,340

-16

1,721

1,591

-8

-135

-251

March

1,740

1,469

-16

1,971

1,687

-14

-231

-217

April

1,490

1,536

3

1,731

1,841

6

-240

-305

Main foreign trade partners of Estonia, April 2024
Country of destination, group of countries

Exports, million euros

Share, %

Change on previous year, %

Country of consignment, group of countries

Imports, million euros

Share, %

Change on previous year, %

TOTAL

1,536

100

3

TOTAL

1,841

100

6

EU-27

1,093

71

2

EU-27

1,556

85

6

Euro area 20

816

53

1

Euro area 20

1,187

64

8

Non-EU

443

29

6

Non-EU

285

15

9

1. Finland

254

17

8

1. Germany

233

13

19

2. Sweden

143

9

0

2. Finland

222

12

-13

3. Latvia

141

9

-21

3. Lithuania

216

12

21

4. Lithuania

123

8

8

4. Latvia

192

10

15

5. Germany

111

7

18

5. Poland

149

8

10

6. USA

79

5

98

6. Sweden

128

7

-4

7. Netherlands

55

4

7

7. Netherlands

106

6

12

8. Russia

51

3

15

8. China

64

3

13

9. Poland

51

3

5

9. Italy

53

3

-5

10. Norway

42

3

-30

10. Belgium

40

2

14

Exports and imports by commodity section, April 2024
Commodity section (chapter) by Combined Nomenclature (CN)

Exports

Imports

Balance

Million euros

Share,

%

Change on previous year, %

Million euros

Share, %

Change on previous year, %

Million euros

 

TOTAL

1,536

100

3

1,841

100

6

-305

Agricultural products and food preparations (I–IV)

178

12

0

237

13

18

-59

Mineral products (V)

146

10

23

194

11

15

-48

Raw materials and products of chemical industry (VI)

75

5

-6

172

10

15

-98

Articles of plastics and rubber (VII)

50

3

6

86

5

-3

-36

Wood and articles of wood (IX)

168

11

-1

55

3

-15

113

Paper and articles thereof (X)

34

2

10

31

2

16

3

Textiles and textile articles (XI)

36

2

-1

61

3

3

-24

Base metals and articles of base metal (XV)

135

9

-2

165

9

-2

-30

Machinery and mechanical appliances (84)

145

10

15

169

9

-11

-24

Electrical equipment (85)

223

14

10

229

12

-3

-7

Transport equipment (XVII)

139

9

-2

230

12

6

-91

Optical, measuring, precision instruments (XVIII)

48

3

7

40

2

-12

8

Miscellaneous manufactured articles (XX)

98

6

-19

43

2

3

56

Other  

62

4

14

128

7

79

-66

Since January 2024, the import data estimates have been partially replaced retroactively with detailed data from other countries. The data were first published in the database in the updated form on 10 June 2024.

Statistics Estonia performs the statistical activity “Foreign trade” for the Ministry of Economic Affairs and Communications with the aim to determine how exporting and importing enterprises are performing in Estonia.

See also the foreign trade section on our website. Statistics Estonia’s foreign trade application provides visualised foreign trade data for Estonia.

More detailed data have been published in the statistical database. Due to rounding, the sum of rows in some tables may differ from the sum total of the column.
 

When using Statistics Estonia’s data and graphs, please indicate the source.
 

For further information:

Heidi Kukk
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372,625 9181
press [at] stat.ee (press[at]stat[dot]ee)

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