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Evelin Puura, the foreign trade statistics team lead at Statistics Estonia, said that trade in August was affected by the continued decline in exports and imports in trade with European Union (EU) countries. “Compared with August 2023, exports to EU countries decreased by 3% and imports from EU countries by 8%. At the same time, extra-EU exports were up by 6%,” noted Puura. The main commodities exported in August were electrical equipment (16% of Estonia’s total exports), agricultural products and food preparations (11%), and wood and articles of wood (11%). Year on year, the biggest decrease

According to Statistics Estonia and Eesti Pank, in the third quarter of 2023, Estonia’s exports of services grew by 1% and imports by 3% at current prices compared with the same quarter of 2022. Sales of services to non-residents totalled 2.8 billion euros and purchases of services from non-residents amounted to 2.2 billion euros. The balance of foreign trade in services was in surplus by 557 million euros.

According to Statistics Estonia and Eesti Pank, in the fourth quarter of 2023, Estonia’s exports of services grew by 5% and imports by 7% compared with the same quarter of 2022. Sales of services to non-residents totalled 3.1 billion euros and purchases of services from non-residents amounted to 2.3 billion euros at current prices. Total exports of services increased by 9% and imports by 8% last year.

The producer price index of industrial output, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for export, fell by 0.4% in October 2023 compared with September and by 3.0% compared with October last year.

According to Statistics Estonia, exports of goods in 2023 decreased by 16% and imports by 17% compared with the year before. Exports of goods amounted to 18 billion and imports to 21 billion euros at current prices. The trade deficit was 3 million euros, which is 695 million euros lower than in 2022.

The producer price index of industrial output, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for export, increased by 0.1% in August 2023 compared with July and decreased by 4.4% compared with August last year.

According to Statistics Estonia, in January 2024, exports of goods decreased by 11% and imports by 13% compared with January 2023. Exports of goods amounted to about 1.4 billion and imports to 1.5 billion euros at current prices. The trade deficit was 122 million euros, which is 60 million euros less than in January last year.

According to Statistics Estonia and Eesti Pank, in the first quarter of 2024, Estonia’s exports of services grew by 2%, while imports were unchanged from the same period last year. Sales of services to non-residents totalled €2.8 billion and purchases of services from non-residents amounted to €2.2 billion at current prices. The balance of foreign trade in services was in surplus by €595 million, which is €45 million more than a year earlier.

The producer price index of industrial output, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for export, increased by 0.7% in September 2023 compared with August and decreased by 2.5% compared with September last year.

According to Statistics Estonia, in the third quarter of 2022, the gross domestic product (GDP) fell by 2.4% year on year. The GDP at current prices was 9.3 billion euros.