In May exports of metal products grew significantly
According to Statistics Estonia, in May exports of goods from Estonia amounted to 11.3 billion kroons (721 million euros) and imports to Estonia to 12.5 billion kroons (800 million euros) at current prices. Compared to May 2009, exports increased in the dispatches of all commodity sections, especially in the dispatches of metals and products thereof.
In May exports grew by 38% or 3.1 billion kroons (199 million euros) and imports by 47% or 4 billion kroons (256 million euros) compared to May 2009. The trade deficit amounted to 1.2 billion kroons (79 million euros), which was nearly four times more than in May of the previous year.
In May, the biggest share in Estonia’s exports was held by the commodities of machinery and equipment (19% of Estonia’s total exports) and mineral products (18%). Compared to May of the previous year, the biggest increase, i.e. 0.7 billion kroons (43 million euros), was reported in the exports of metals and products thereof. Metals and products thereof were mainly exported to Finland and Turkey. Dispatches of mineral products (incl. motor spirits, fuel oils and electrical energy) increased by 42%.
In May the biggest share in Estonia’s imports was held by mineral products (23% of Estonia’s total imports) and machinery and equipment (20%). The turnover of imports increased among all main commodity sections compared to May of the previous year. The biggest increase was announced in the arrivals of mineral products and machinery and equipment.
The main countries of destination for Estonia were Finland (17% of Estonia’s total exports), Sweden (13%) and Latvia (9%). Electrical machinery, furniture and wood and articles of wood accounted for the biggest share of exports to Finland; electrical machinery, wood and articles of wood — to Sweden; and fuels and vehicles and parts thereof — to Latvia. Compared to May of the previous year, exports to the USA and Sweden increased the most.
The main countries from where goods were imported to Estonia were Finland (15% of Estonia’s total imports), Germany and Lithuania (11% from both). Fuels accounted for the biggest share of imports from Finland and Lithuania, mechanical machinery and vehicles and accessories thereof — from Germany. The biggest increase was announced in the imports from Finland, Lithuania and Germany.
According to the data of Eurostat, the turnover of exports of the European Union (EU) countries increased by 22% compared to May of the previous year.
In May compared to April, exports from Estonia increased by 7%, and imports to Estonia by 14%.
| Month | Exports, million kroons | Imports, million kroons | Balance, million kroons | |||||
|---|---|---|---|---|---|---|---|---|
| 2009 | 2010 | change, % | 2009 | 2010 | change, % | 2009 | 2010 | |
| January | 7 269 | 8 092 | 11 | 8 830 | 8 462 | -4 | -1 561 | -370 |
| February | 7 817 | 9 776 | 25 | 8 755 | 9 563 | 9 | -938 | 213 |
| March | 8 348 | 9 764 | 17 | 9 788 | 12 539 | 28 | -1 440 | -2 775 |
| April | 7 736 | 10 568 | 37 | 9 330 | 10 963 | 18 | -1 594 | -395 |
| May | 8 163 | 11 284 | 38 | 8 511 | 12 523 | 47 | -348 | -1 239 |
| Country of destination, group of countries | Exports, million kroons | Share, % | Change compared to same month of previous year, % | Country of consignment, group of countries | Imports, million kroons | Share, % | Change compared to same month of previous year, % |
|---|---|---|---|---|---|---|---|
| TOTAL | 11 284 | 100 | 38 | TOTAL | 12 523 | 100 | 47 |
| EU | 7 328 | 65 | 28 | EU | 9 869 | 79 | 45 |
| Euro area | 3 312 | 29 | 16 | Euro area | 4 822 | 39 | 43 |
| CIS | 1 165 | 10 | 35 | CIS | 1 636 | 13 | 61 |
| 1. Finland | 1 930 | 17 | 26 | 1. Finland | 1 913 | 15 | 54 |
| 2. Sweden | 1 414 | 13 | 43 | 2. Germany | 1 370 | 11 | 62 |
| 3. Latvia | 980 | 9 | 27 | 3. Lithuania | 1 329 | 11 | 74 |
| 4. Russia | 932 | 8 | 48 | 4. Russia | 1 245 | 10 | 38 |
| 5. USA | 887 | 8 | 200 | 5. Latvia | 1 223 | 10 | 44 |
| 6. Lithuania | 624 | 6 | 36 | 6. Sweden | 1 128 | 9 | 35 |
| 7. Germany | 623 | 6 | 22 | 7. Poland | 752 | 6 | 62 |
| 8. Norway | 332 | 3 | 17 | 8. Netherlands | 607 | 5 | 80 |
| 9. Denmark | 298 | 3 | 11 | 9. China | 311 | 2 | 96 |
| 10. Nigeria | 283 | 3 | -49 | 10. taly | 259 | 2 | 62 |
| Commodity section by Combined Nomenclature (CN) | Exports | Imports | Balance, million kroons | ||||
|---|---|---|---|---|---|---|---|
| million kroons | share, % | change compared to same month of previous year, % | million kroons | share, % | change compared to same month of previous year, % | ||
| TOTAL | 11 284 | 100 | 38 | 12 523 | 100 | 47 | -1 239 |
| Agricultural products and food preparations (I–IV) | 1 068 | 9 | 38 | 1 353 | 11 | 10 | -285 |
| Mineral products (V) | 2 016 | 18 | 42 | 2 873 | 23 | 99 | -857 |
| Raw materials and products of chemical industry (VI) | 483 | 4 | 5 | 969 | 8 | 12 | -486 |
| Articles of plastics and rubber (VII) | 350 | 3 | 48 | 666 | 5 | 31 | -316 |
| Wood and products thereof (IX) | 1 071 | 9 | 46 | 383 | 3 | 67 | 688 |
| Paper and articles thereof (X) | 369 | 3 | 42 | 281 | 2 | 20 | 88 |
| Textiles and products thereof (XI) | 350 | 3 | 15 | 587 | 5 | 37 | -237 |
| Metals and products thereof (XV) | 1 302 | 12 | 109 | 1 065 | 9 | 55 | 237 |
| Machinery and equipment (XVI) | 2 097 | 19 | 31 | 2 550 | 20 | 62 | -453 |
| Transport equipment (XVII) | 681 | 6 | 5 | 900 | 7 | 43 | -219 |
| Miscellaneous manufactured articles (XX) | 878 | 8 | 27 | 257 | 2 | 12 | 621 |
| Other | 619 | 5 | 53 | 639 | 5 | 41 | -20 |
The preliminary foreign trade data about May were released by Statistics Estonia on 12 July (on the 40th day after the end of the reference period). This news release provides the revised data and offers a more detailed overview of trade about the month under observation. The trade data in euros have been published in the Statistical Database.