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In September trade in machinery and equipment doubled

News
Posted on 23 November 2010, 10:00

According to Statistics Estonia, in September compared to September of the previous year, exports of goods grew by 41% and imports by 35% at current prices. Exports and imports were mostly influenced by the remarkable increase of trade in machinery and equipment.

In September 2010, exports of goods from Estonia amounted to 13.2 billion kroons (847 million euros) and imports to Estonia to 13.5 billion kroons (862 million euros). The trade deficit amounted to 0.3 billion kroons (15 million euros), which decreased more than twice compared to September 2009.

In September, the biggest share in Estonia’s exports was held by the commodities of machinery and equipment (a quarter of Estonia’s total exports), mineral products (13%) and metals and products thereof (10%). Exports of machinery and equipment increased twofold or by 1.6 billion kroons (103 million euros) compared to September of the previous year. Exports of metals and products thereof and wood and products thereof also increased significantly (72% and 41%, respectively).

In September the biggest share in Estonia’s imports was held by machinery and equipment (27% of Estonia’s total imports), mineral products (13%) and agricultural products and food preparations (11%). Compared to September 2009, arrivals of machinery and equipment increased nearly twofold or by 1.7 billion kroons (110 million euros). Imports of metals and products thereof also increased significantly.

In September the main countries of destination were Sweden (17% of Estonia’s total exports), Finland (16%), Latvia and Russia (both 10%). Compared to September of the previous year, exports to Sweden doubled. Exports increased significantly also to Finland and Russia. Electrical equipment and wood and products thereof were mainly exported to Sweden, electrical equipment and furniture to Finland, mineral fuels and mechanical equipment to Latvia and mechanical equipment and paints and varnishes to Russia.

The main countries from where goods were imported to Estonia were Finland (16% of Estonia’s total imports), Germany and Sweden (12% from each). The biggest increase was announced in the arrivals from Finland and Sweden. Mineral fuels and electrical equipment were mainly imported from Finland, vehicles and parts thereof and electrical equipment from Germany and Sweden.

During the nine months (January–September 2010) the turnover of exports of goods from Estonia increased by 28% and of imports to Estonia by 23% compared to the same period of the previous year. The turnover of exports from Latvia increased by 29% and from Lithuania by 28% (imports by 18% and 29%, respectively).

Estonia’s foreign trade, January–September, 2009–2010
Month Exports, million kroons Imports, million kroons Balance, million kroons
2009 2010 change, %  2009 2010 change, % 2009 2010
January 7 270 8 129 12 8 851 8 484 -4 -1 581 -355
February 7 818 9 834 26 8 780 9 534 9 -962 300
March 8 345 9 820 18 9 825 12 552 28 -1 480 -2 732
April 7 728 10 631 38 9 385 10 905 16 -1 657 -274
May 8 165 11 385 39 8 555 12 385 45 -390 -1 000
June 9 550 10 412 9 9 811 11 933 22 -261 -1 521
July 8 251 10 964 33 9 444 11 597 23 -1 193 -633
August 8 120 11 200 38 9 134 12 201 34 -1 014 -1 001
September 9 428 13 247 41 9 956 13 485 35 -528 -238
9 months 74 675 95 622 28 83 741 103 076 23 -9 066 -7 454

 

Main foreign trade partners of Estonia, September 2010
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 13 247 100 41 TOTAL 13 485 100 35
EU 9 291 70 42 EU 11 334 84 39
Euro area 3 873 29 27 Euro area 5 455 40 44
CIS 1 581 12 41 CIS 991 7 -3
1. Sweden 2 293 17 103 1. Finland 2 206 16 58
2. Finland 2 145 16 27 2. Germany 1 654 12 47
3. Latvia 1 365 10 20 3. Sweden 1 631 12 77
4. Russia 1 263 10 39 4. Latvia 1 359 10 16
5. Lithuania 741 6 69 5. Poland 1 071 8 64
6. Germany 679 5 32 6. Lithuania 1 007 7 19
7. Norway 517 4 70 7. Russia 660 5 -25
8. Netherlands 377 3 93 8. Netherlands 500 4 40
9. Turkey 291 2 429 9. China 478 4 163
10. Denmark 264 2 -30 10. Italy 317 2 41

 

Exports and imports by commodity sections, September 2010
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 13 247 100 41 13 485 100 35 -238
Agricultural products and food preparations (I–IV) 1 152 9 21 1 451 11 16 -299
Mineral products (V) 1 781 13 8 1 821 13 1 -40
Raw materials and products of chemical industry (VI) 591 4 3 1 032 8 14 -441
Articles of plastics and rubber (VII) 435 3 32 816 6 31 -381
Wood and products thereof (IX) 1 158 9 41 363 3 14 795
Paper and articles thereof (X) 434 3 48 333 2 14 101
Textiles and products thereof (XI) 496 4 40 776 6 37 -280
Metals and products thereof (XV) 1 371 10 72 1 290 10 51 81
Machinery and equipment (XVI) 3 312 25 94 3 634 27 90 -322
Transport equipment (XVII) 769 6 20 836 6 62 -67
Miscellaneous manufactured articles (XX) 1 001 8 24 310 2 7 691
Other 747 6 49 823 6 32 -76

The preliminary foreign trade data about September were released by Statistics Estonia on 9th November (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.