In October the foreign trade decreased
According to the preliminary data of Statistics Estonia, in October 2009 exports of goods from Estonia amounted to 8.9 billion kroons at current prices and imports to Estonia made up 9.8 billion kroons. Compared to October of the previous year as well as to September this year the foreign trade decreased.
Compared to October of the previous year, the value of exports of goods decreased by 33% (4.4 billion kroons) and that of imports by 38% (5.9 billion kroons). A significant decline in foreign trade in October was partly caused by high comparative base indicators of the previous year. But compared to September 2009, exports as well as imports decreased by 5%.
In October, the foreign trade deficit amounted to 0.9 billion kroons, which was about three times less compared to October of the previous year (in October 2008 the foreign trade balance was 2.4 billion kroons).
In October the value of goods exported from Estonia to the European Union (EU27) countries was 6.3 billion kroons, accounting for 71% of Estonia’s total exports. Compared to October of the previous year, exports to the EU27 countries decreased by a quarter (2.1 billion kroons). Exports from Estonia to non-EU countries or the so-called third countries amounted to nearly 2.6 billion kroons, which is by 47% less compared to October 2008.
In October, imports from the European Union (EU27) countries to Estonia totalled 8 billion kroons with the share of 82% of Estonia’s total imports. Imports from the EU countries decreased by over a third (4.3 billion kroons) compared to October of the previous year. Imports from other countries than the EU amounted to about 1.7 billion kroons, which is 47% less compared to October of the previous year.
The foreign trade deficit with the European Union countries amounted to 1.7 billion kroons (4 billion kroons in October 2008). At the same time, the trade balance with other countries than the EU was slightly on the positive side or exports to these countries exceeded imports by approximately 0.8 billion kroons.
Estonia’s foreign trade, January 2008 – October 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 of the foreign trade for October on the 28th of December.