Last year Estonia’s trade deficit was the smallest during the last 15 years

In 2009 compared to 2008, exports from Estonia decreased 24% (by 31.1 billion kroons) and imports to Estonia 33% (by 55.9 billion kroons). As imports declined more than exports, then the trade deficit also declined significantly. In 2009 Estonia’s trade deficit was three times smaller than in 2008.

In 2009 the value of goods exported from Estonia to the European Union (EU27) countries was 70.3 billion kroons, accounting for 69% of Estonia’s total exports. Compared to 2008, exports to the EU27 countries decreased by nearly a quarter. Exports from Estonia to non-EU countries or the so-called third countries amounted to 31 billion kroons, which is nearly a fifth less than in 2008.

In December, imports from the European Union (EU27) countries to Estonia totalled 90.9 billion kroons with the share of 80% of Estonia’s total imports. Compared to 2008, imports from the EU countries decreased by about a third. Imports of goods from the third countries also declined by about a third compared to 2008.

In 2009 the foreign trade deficit with the European Union countries amounted to 20.6 billion kroons (42.8 billion kroons in 2008). At the same time, in 2009, the trade balance with other countries than the EU was positive or exports to these countries exceeded imports by approximately 7.7 billion kroons.

In December 2009 exports decreased 1% and imports 12% (1.4 billion kroons) compared to December 2008.

Estonian foreign trade, 1995–2009

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 December 2009 and for the whole year on the 26th of February.