In March foreign trade increased
According to Statistics Estonia, in March 2015, exports of goods increased by 3% and imports by 1% compared to March of the previous year. The increase in exports and imports was mostly influenced by a growth in the trade of electrical equipment and miscellaneous manufactured articles.
In March, exports from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.2 billion euros at current prices. The trade deficit was 152 million euros and it decreased by 25 million euros compared to March 2014.
The biggest share in Estonia’s exports in March was held by electrical equipment (22% of Estonia’s total exports), followed by mineral products (11%) and wood and products thereof (10%). The increase in exports compared to March 2014 was due to a significant increase in the exports of electrical equipment (up by 32 million euros), miscellaneous manufactured articles (up by 13 million euros) and wood and products thereof (up by 8 million euros). The biggest decrease occurred in the exports of agricultural products and food preparations (down by 14 million euros) and mineral products and mechanical appliances (each down by 9 million euros).
In March, the main commodities imported were electrical equipment (17% of Estonia’s total imports), mineral products (11%) and mechanical appliances (10%). The rise in imports was influenced the most by an increase in the imports of raw materials and products of chemical industry (up by 12 million euros), electrical equipment (up by 7 million euros) and miscellaneous manufactured articles (up by 6 million euros). At the same time, there was a decrease in the imports of mineral products (down by 20 million euros) and agricultural products and food preparations (down by 7 million euros).
The top destination country of Estonia’s exports in March was Sweden (a fifth of Estonia’s total exports), followed by Finland (15%) and Latvia (9%). Electrical equipment and wood and products thereof were the main commodities exported to Sweden; electrical equipment and metals and products thereof were the main commodities exported to Finland; mineral products (incl. electricity) and agricultural products and food preparations were the main commodities exported to Latvia. The biggest increase occurred in exports to Sweden (up by 34 million euros), mainly due to increased exports of electrical equipment. At the same time, there was a decrease in exports to Russia (down by 48 million euros), resulting from a decrease in the exports of mechanical appliances (incl. bulldozers, excavators), electrical equipment and agricultural products and food preparations (incl. spirits, milk and dairy products, fish).
The main countries of consignment in March were Finland (14% of Estonia’s total imports), Germany (11%) and Sweden (10%). The main commodities imported were electrical equipment and mineral products (incl. motor spirits, electricity) from Finland; mechanical appliances and transport equipment from Germany; and electrical equipment and transport equipment from Sweden. The biggest increase occurred in imports from China (up by 23 million euros), due to increased imports of electrical equipment. At the same time, there was a decrease in imports from the Netherlands (down by 24 million euros). The decreased imports from the Netherlands were mainly due to the declining imports of electrical equipment.
In the 1st quarter of 2015, exports stayed on the same level and imports decreased by 3% compared to the same period of 2014. The trade deficit in the 1st quarter was 325 million euros (412 million euros in the same period of 2014).
In the 1st quarter of this year compared to the same period of 2014, Estonia’s exports and imports were influenced the most by the trade of electrical equipment and agricultural products and food preparations. The exports and imports of electrical equipment grew (by 91 and 79 million euros, respectively) and the exports and imports of agricultural products and food preparations decreased (by 38 and 33 million euros, respectively).
In March compared to February 2015, exports increased by 22% and imports by 21%.
| Month | Exports, million euros | Imports, million euros | Balance, million euros | |||||
|---|---|---|---|---|---|---|---|---|
| 2014 | 2015 | change, % | 2014 | 2015 | change, % | 2014 | 2015 | |
| January | 907.6 | 920.2 | 1 | 1 018.7 | 961.4 | -6 | -111.1 | -41.3 |
| February | 923.6 | 866.6 | -6 | 1 047.8 | 998.7 | -5 | -124.2 | -132.0 |
| March | 1 023.0 | 1 054.9 | 3 | 1 199.5 | 1 206.8 | 1 | -176.5 | -151.9 |
| 1st quarter total | 2 854.2 | 2 841.7 | 0 | 3 266.0 | 3 166.9 | -3 | -411.8 | -325.2 |
| 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 | 1 054.9 | 100 | 3 | TOTAL | 1 206.8 | 100 | 1 |
| EU-28 | 790.0 | 75 | 7 | EU-28 | 966.9 | 80 | -3 |
| EA19 | 489.0 | 46 | 2 | EA19 | 663.3 | 55 | -6 |
| CIS | 74.6 | 7 | -41 | CIS | 111.8 | 9 | 12 |
| 1. Sweden | 209.7 | 20 | 19 | 1. Finland | 168.9 | 14 | -3 |
| 2. Finland | 162.9 | 15 | 5 | 2. Germany | 132.2 | 11 | -5 |
| 3. Latvia | 96.7 | 9 | -6 | 3. Sweden | 116.9 | 10 | 17 |
| 4. Russia | 62.4 | 6 | -43 | 4. Lithuania | 105.6 | 9 | -2 |
| 5. Lithuania | 57.4 | 5 | 4 | 5. Russia | 102.1 | 8 | 18 |
| 6. Germany | 55.8 | 5 | 9 | 6. Latvia | 99.0 | 8 | -6 |
| 7. Norway | 48.2 | 5 | 32 | 7. Poland | 88.0 | 7 | -3 |
| 8. Netherlands | 38.5 | 4 | 30 | 8. China | 54.6 | 5 | 74 |
| 9. USA | 37.6 | 4 | -26 | 9. Netherlands | 44.2 | 4 | -35 |
| 10. Denmark | 30.1 | 3 | 4 | 10. Italy | 31.2 | 3 | -3 |
| Commodity section (chapter) by Combined Nomenclature (CN) | Exports | Imports | Balance, million euros | ||||
|---|---|---|---|---|---|---|---|
| million euros | share, % | change compared to same period of previous year, % | million euros | share, % | change compared to same period of previous year, % | ||
| TOTAL | 1 054.9 | 100 | 3 | 1 206.8 | 100 | 1 | -151.9 |
| Agricultural products and food preparations (I–IV) | 89.7 | 9 | -13 | 117.8 | 10 | -6 | -28.0 |
| Mineral products (V) | 114.3 | 11 | -7 | 135.9 | 11 | -13 | -21.6 |
| Raw materials and products of chemical industry (VI) | 51.2 | 5 | 3 | 114.0 | 9 | 11 | -62.8 |
| Articles of plastics and rubber (VII) | 35.4 | 3 | 4 | 65.8 | 5 | 2 | -30.5 |
| Wood and products thereof (IX) | 106.4 | 10 | 8 | 38.4 | 3 | 4 | 68.0 |
| Paper and articles thereof (X) | 29.4 | 3 | 11 | 24.9 | 2 | 10 | 4.5 |
| Textiles and products thereof (XI) | 30.1 | 3 | -14 | 58.7 | 5 | 0 | -28.6 |
| Metals and products thereof (XV) | 68.3 | 6 | 4 | 94.6 | 8 | 4 | -26.3 |
| Mechanical appliances (84) | 73.4 | 7 | -11 | 122.2 | 10 | 0 | -48.8 |
| Electrical equipment (85) | 232.0 | 22 | 16 | 200.8 | 17 | 4 | 31.1 |
| Transport equipment (XVII) | 62.9 | 6 | 11 | 116.0 | 10 | 0 | -53.1 |
| Miscellaneous manufactured articles (XX) | 92.0 | 9 | 16 | 33.5 | 3 | 22 | 58.5 |
| Other | 69.7 | 6 | 1 | 84.2 | 7 | 0 | -14.4 |
The statistics are based on the questionnaires “Intrastat” and “Exports (sale of fish and crustaceans in foreign waters and ports)”, the due dates of which were, respectively, 14 April and 15 April 2015, and on the customs declaration data of the Estonian Tax and Customs Board which were sent to Statistics Estonia on 20 April 2015. Statistics Estonia published the monthly summary of foreign trade in 13 working days.