In June exports and imports were the biggest of the current year

Compared to June of the previous year, exports of goods from Estonia decreased by 13% or 1.5 billion kroons and imports by 29% or 4 billion kroons. Compared to May of the current year, exports increased by 17% and imports by 19%. In June of the current year, the foreign trade deficit was 0.7 billion kroons which was five times less than in the same month of the previous year.

In June the value of goods exported from Estonia to the EU countries (EU 27) was 6.1 billion kroons with the share of 64% of Estonian total exports. Compared to June of the previous year, exports decreased by about a fourth. Exports from Estonia to non-EU countries or the so-called third countries amounted to 3.3 billion kroons or half a billion kroons more than in June 2008.

Imports from the European Union (EU 27) countries to Estonia totalled 7.7 billion kroons with the share of 77% of Estonian total imports. Imports from the EU countries decreased by 3.9 billion kroons (34%) compared to June of the previous year. Imports from other countries than the EU accounted for 2.4 billion kroons decreasing by only 5% compared to June of the previous year.

The foreign trade deficit with the EU countries accounted for 1.6 billion kroons (3.6 billion kroons in June 2008). At the same time, Estonia’s trade balance with other countries than the EU was positive or exports to those countries exceeded imports approximately by 1 billion kroons.

In the 2nd quarter of 2009 exports from Estonia amounted to 25.1 billion kroons and imports to 28 billion kroons at current prices. Exports decreased by 28% and imports by 37% compared to the 2nd quarter of the previous year. Although the trade dynamics were positive in June, the decline in exports and imports in the 2nd quarter as a whole was slightly bigger than in the 1st quarter.

Estonian foreign trade, January 2008 – June 2009

Statistics Estonia releases the first estimates about foreign trade on the 40th day after the end of the reference period which are then revised on the 54th day. Statistics Estonia will release a more detailed overview about foreign trade for June on the 24th of August.