In January imports grew faster than exports
According to Statistics Estonia, in January 2011 compared to the same month of the previous year, exports of goods grew by 57% and imports by 66% at current prices. The growth in imports was mainly influenced by the arrivals of machinery and equipment as well as transport equipment. Among partner countries Sweden ranked the first in both exports and imports.
In January 2011 exports from Estonia amounted to 816 million euros (12.8 billion kroons) and imports to Estonia to 901 million euros (14.1 billion kroons) at current prices. The trade deficit was registered as 85 million euros (1.3 billion kroons), which is nearly four times bigger than in January 2010.
In Estonia’s exports the biggest share was held by machinery and equipment (28% of Estonia’s total exports), mineral products (incl. petrol, fuel oils and electricity) (17%) and agricultural products and food preparations (9%). Exports of machinery and equipment were 2.5 times bigger compared to January 2010. Exports of agricultural products and food preparations and metals and products thereof also increased significantly (65% and 53%, respectively).
In January the biggest share of Estonia’s imports was held by machinery and equipment (24% of Estonia’s total imports), mineral products (21%) and transport equipment (11%). Arrivals of machinery and equipment increased by two times compared to January 2010. Imports of transport equipment also increased significantly.
In exports the share of the European Union (EU 27) was 71% and the share of euro area (EA 17) 32% of the total exports of Estonia. The first place in destination countries of Estonia’s exports was held by Sweden (a fifth of Estonia’s total exports), followed by Finland (15%) and Russia (8%). Compared to January 2010, exports to Sweden increased the most (two times), exports to Finland by 33% and to the US by six times. Machinery and equipment was mainly exported to Sweden and Finland, and agricultural products and food preparations to Russia.
In January, imports from the European Union accounted for 70% and from euro area for 30% of the total imports of Estonia. Sweden became the main country of consignment of goods (11% of Estonia’s total imports), followed by Finland (11%) and Latvia (10%). In January 2010, Sweden ranked only the sixth among the countries of consignment and compared to the same month of the previous year, arrivals from Sweden have increased by two times. Machinery and equipment were mainly imported from Finland and Sweden, mineral products from Latvia and transport equipment from Canada (aircraft).
In January 2011 compared to December 2010, exports decreased by 12% and imports by 3%. The decrease in the trade turnover is caused by the seasonality (the period of Christmas sales in December and the vacation period at the end of the year).
| Year | Month | Exports | Imports | Balance |
|---|---|---|---|---|
| 2011 | January | 816 | 901 | -85 |
| 2010 | January | 520 | 543 | -23 |
| February | 629 | 608 | 21 | |
| March | 629 | 802 | -173 | |
| April | 681 | 698 | -17 | |
| May | 730 | 792 | -62 | |
| June | 663 | 757 | -94 | |
| July | 698 | 733 | -35 | |
| August | 713 | 767 | -54 | |
| September | 846 | 849 | -3 | |
| October | 847 | 854 | -7 | |
| November | 868 | 906 | -38 | |
| December | 930 | 932 | -2 |
| Country of destination, group of countries | Exports, million euros | Share, % | Change compared to same month of previous year, % | Country of consignment, group of countries | Imports, million euros | Share, % | Change compared to same month of previous year, % |
|---|---|---|---|---|---|---|---|
| TOTAL | 816 | 100 | 57 | TOTAL | 901 | 100 | 66 |
| EU 27 | 578 | 71 | 59 | EU 27 | 633 | 70 | 50 |
| Euro area | 264 | 32 | 38 | Euro area | 268 | 30 | 38 |
| CIS | 82 | 10 | 91 | CIS | 116 | 13 | 55 |
| 1. Sweden | 162 | 20 | 128 | 1. Sweden | 98 | 11 | 109 |
| 2. Finland | 120 | 15 | 33 | 2. Finland | 95 | 11 | 14 |
| 3. Russia | 63 | 8 | 80 | 3. Latvia | 88 | 10 | 42 |
| 4. Latvia | 54 | 7 | 23 | 4. Germany | 83 | 9 | 54 |
| 5. France | 49 | 6 | 48 | 5. Russia | 81 | 9 | 23 |
| 6. Germany | 39 | 5 | 22 | 6. Lithuania | 75 | 8 | 27 |
| 7. Nigeria | 38 | 5 | 52 | 7. Poland | 58 | 6 | 87 |
| 8. USA | 37 | 5 | 517 | 8. Canada | 42 | 5 | - |
| 9. Lithuania | 34 | 4 | 42 | 9. China | 41 | 5 | 193 |
| 10. Norway | 27 | 3 | 50 | 10. Netherlands | 30 | 3 | 114 |
| Commodity section by Combined Nomenclature (CN) | Exports | Imports | Balance, million euros | ||||
|---|---|---|---|---|---|---|---|
| million euros | share, % | change compared to same month of previous year, % | million euros | share, % | change compared to same month of previous year, % | ||
| TOTAL | 816 | 100 | 57 | 901 | 100 | 66 | -85 |
| Agricultural products and food preparations (I–IV) | 71 | 9 | 65 | 80 | 9 | 36 | -9 |
| Mineral products (V) | 142 | 17 | 12 | 190 | 21 | 33 | -48 |
| Raw materials and products of chemical industry (VI) | 30 | 4 | 43 | 56 | 6 | 12 | -26 |
| Articles of plastics and rubber (VII) | 22 | 3 | 29 | 42 | 5 | 56 | -20 |
| Wood and products thereof (IX) | 69 | 9 | 30 | 21 | 2 | 62 | 48 |
| Paper and articles thereof (X) | 26 | 3 | 53 | 18 | 2 | 20 | 8 |
| Textiles and products thereof (XI) | 28 | 3 | 47 | 42 | 5 | 45 | -14 |
| Metals and products thereof (XV) | 61 | 7 | 53 | 78 | 9 | 95 | -17 |
| Machinery and equipment (XVI) | 227 | 28 | 152 | 218 | 24 | 110 | 9 |
| Transport equipment (XVII) | 39 | 5 | 56 | 100 | 11 | 317 | -61 |
| Miscellaneous manufactured articles (XX) | 56 | 7 | 33 | 15 | 2 | 25 | 41 |
| Other | 45 | 6 | 80 | 41 | 5 | 52 | 4 |