In July, fuel exports and imports increased trade
According to Statistics Estonia, in July 2018, the exports of goods increased by 27% and imports by 18% compared to July 2017. The growth in trade was affected the most by a significant increase in trade in mineral products (fuel additives, shale oil, motor spirit and heavy fuel oils). Mineral products trade increased in both quantity and value, exports tripled and imports doubled.
In July 2018, exports from Estonia amounted to 1.2 billion euros and imports to Estonia to 1.3 billion euros at current prices. The trade deficit was 137 million euros (in July 2017, it was 186 million euros).
In July 2018, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports of goods), Sweden, Latvia (both 9%) and the USA (10%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; agricultural products and food preparations (raw milk, beer) and mineral products (electricity, fuel additives) were the main commodities exported to Latvia; electrical equipment and wood and articles of wood were the main commodities exported to Sweden. The biggest increase occurred in exports to the USA (up by 54 million euros), Finland (up by 47 million euros), Saudi Arabia (up by 45 million euros) and Singapore (up by 35 million euros). In exports to the USA, the exports of electrical equipment (data communication equipment) and mineral products increased the most. There was also an increase in the exports of mineral products to Finland, Saudi Arabia and Singapore. The biggest decrease occurred in exports to Sweden (down by 27 million euros).
In July, the biggest share in the exports of goods was held by mineral products (22% of the total exports of goods), electrical equipment (15%), followed by wood and articles of wood (9%). The greatest increase was in the exports of mineral products (up by 184 million euros) and wood and articles of wood (up by 13 million euros) and base metals and articles of base metal (up by 12 million euros).
The share of goods of Estonian origin in total exports was 71% in July 2018. The exports of goods of Estonian origin increased by 27% and re-exports by 25%. In the exports of goods of Estonian origin, the greatest increase was in the exports of mineral products (oil, shale oil, electricity), wood and articles of wood (birch pulpwood, coniferous sawn timber) and miscellaneous manufactured articles (prefabricated wood buildings).
The main countries of consignment in July 2018 were Finland (13% share of Estonia’s total imports of goods), Germany (11%) and Lithuania (10%). From Finland, mineral products and electrical equipment were imported the most. In imports from Lithuania, mineral products and agricultural products and food preparations had the highest share, while mechanical appliances and transport equipment were the main commodities imported from Germany. The biggest increase occurred in imports from Russia (up by 49 million euros), Belarus (up by 42 million euros) and Lithuania (up by 28 million euros), with the imports of mineral products (fuel additives, motor spirit) increasing the most from each country.
The main commodities imported to Estonia were mineral products (15% of Estonia’s total imports of goods), electrical equipment (14%) and mechanical appliances (11%). The greatest increase was in the imports of mineral products (up by 104 million euros), mechanical appliances (up by 29 million euros), and base metals and articles of base metal (up by 16 million euros).
In July 2018, the foreign trade export volume index increased by 23% and the import volume index by 12% compared to July 2017.
| Month | Exports, million euros | Imports, million euros | Balance, million euros | |||||
|---|---|---|---|---|---|---|---|---|
| 2017 | 2018 | change, % | 2017 | 2018 | change, % | 2017 | 2018 | |
| TOTAL | 7,287 | 8,168 | 12 | 8,577 | 9,376 | 9 | -1,290 | -1,209 |
| January | 940 | 1,029 | 10 | 1,350 | 1,250 | -7 | -410 | -221 |
| February | 972 | 1,114 | 15 | 1,072 | 1,203 | 12 | -100 | -89 |
| March | 1,179 | 1,139 | -3 | 1,321 | 1,361 | 3 | -142 | -222 |
| April | 1,027 | 1,192 | 16 | 1,212 | 1,363 | 12 | -185 | -171 |
| May | 1,148 | 1,240 | 8 | 1,300 | 1,451 | 12 | -153 | -210 |
| June | 1,085 | 1,266 | 17 | 1,199 | 1,424 | 19 | -114 | -158 |
| July | 938 | 1,188 | 27 | 1,124 | 1,325 | 18 | -186 | -137 |
| Country of destination, group of countries | Exports, million euros | Share, % | Change on same month of previous year, % | Country of consignment, group of countries | Imports, million euros | Share, % | Change on same month of previous year, % |
|---|---|---|---|---|---|---|---|
| TOTAL | 1,188 | 100 | 27 | TOTAL | 1,325 | 100 | 18 |
| EU-28 | 748 | 63 | 12 | EU-28 | 1,019 | 77 | 11 |
| Euro area 19 | 529 | 45 | 18 | Euro area 19 | 742 | 56 | 11 |
| Non-EU | 439 | 37 | 64 | Non-EU | 306 | 23 | 49 |
| 1. Finland | 190 | 16 | 33 | 1. Finland | 166 | 13 | 12 |
| 2. Sweden | 104 | 9 | -21 | 2. Germany | 151 | 11 | 18 |
| 3. Latvia | 102 | 9 | 8 | 3. Lithuania | 128 | 10 | 29 |
| 4. USA | 78 | 7 | - | 4. Latvia | 109 | 8 | 18 |
| 5. Russia | 72 | 6 | -6 | 5. Russia | 107 | 8 | 84 |
| 6. Lithuania | 65 | 5 | 7 | 6. Sweden | 106 | 8 | 16 |
| 7. Germany | 65 | 5 | 0 | 7. Poland | 81 | 6 | -6 |
| 8. Saudi Arabia | 47 | 4 | - | 8. Netherlands | 66 | 5 | -3 |
| 9. Singapore | 40 | 3 | - | 9. China | 54 | 4 | -1 |
| 10. Norway | 39 | 3 | 23 | 10. Belarus | 46 | 3 | - |
| Commodity section (chapter) by Combined Nomenclature (CN) | Exports | Imports | Balance, million euros | ||||
|---|---|---|---|---|---|---|---|
| million euros | share, % | change on same period of previous year, % | million euros | share, % | change on same period of previous year, % | ||
| TOTAL | 1,188 | 100 | 27 | 1,325 | 100 | 18 | -137 |
| Agricultural products and food preparations (I–IV) | 89 | 7 | 9 | 128 | 10 | 5 | -39 |
| Mineral products (V) | 264 | 22 | - | 200 | 15 | - | 64 |
| Raw materials and products of chemical industry (VI) | 59 | 5 | 11 | 112 | 9 | 15 | -53 |
| Articles of plastics and rubber (VII) | 34 | 3 | 9 | 69 | 5 | 7 | -35 |
| Wood and articles of wood (IX) | 104 | 9 | 14 | 44 | 3 | 26 | 60 |
| Paper and articles thereof (X) | 30 | 2 | 10 | 22 | 2 | 13 | 7 |
| Textiles and textile articles (XI) | 30 | 2 | -5 | 52 | 4 | 1 | -23 |
| Base metals and articles of base metal (XV) | 92 | 8 | 15 | 124 | 9 | 15 | -32 |
| Mechanical appliances (84) | 90 | 8 | 6 | 148 | 11 | 25 | -59 |
| Electrical equipment (85) | 174 | 15 | 0 | 177 | 14 | 6 | -3 |
| Transport equipment (XVII) | 70 | 6 | -1 | 137 | 10 | 6 | -68 |
| Optical, measuring, precision instruments (XVIII) | 33 | 3 | 23 | 29 | 2 | 13 | 4 |
| Miscellaneous manufactured articles (XX) | 84 | 7 | 16 | 31 | 2 | 1 | 53 |
| Other | 36 | 3 | 5 | 51 | 4 | -11 | -15 |
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 and 15 August 2018, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 21 August 2018. Statistics Estonia published the monthly summary of foreign trade in 13 working days. In the case of the statistical activity “Foreign trade”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.