In March the foreign trade increased
According to the preliminary data of Statistics Estonia, in March 2010 compared to March of the previous year, exports of goods grew by 17% and imports by 27% at current prices.
In March exports of goods from Estonia amounted to 9.7 billion kroons and imports of goods to Estonia totalled 12.4 billion kroons. Exports and imports were bigger last in November 2008. Exports increased by 1.4 billion kroons and imports by 2.6 billion kroons compared to March of the previous year. The significant increase in imports was influenced by some extraordinary single transactions. Due to the growth of imports the trade deficit also increased, amounting to 2.7 billion kroons in March. The trade deficit grew nearly two times compared to March of the previous year.
In March the value of goods exported to the EU countries (EU 27) amounted to 7.4 billion kroons with the share of 76% of Estonia’s total exports. Compared to March of the previous year, exports to the EU countries increased by 22%. Exports to non-EU countries or the so-called third countries amounted to 2.4 billion kroons, which was by 3% more than in March 2009.
Imports from the European Union countries totalled 9.4 billion kroons with the share of 76% of the Estonian total imports. Imports from the EU 27 countries increased by about a quarter compared to March of the previous year. Imports from other countries than EU 27 accounted for 3 billion kroons, which is by about 39% more than in the same month of the previous year.
The trade deficit between the EU countries amounted to 2.1 billion kroons. The trade balance with other countries than the EU was also negative because exports to those countries was by 0.6 billion kroons smaller than imports.
In March compared to February, exports grew by 1% and imports by 30%. The increase in trade was partly influenced by the fact that there were four working days more in March compared to February.
Estonian foreign trade, January 2009 – March 2010
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 on the 24th of May.