Exports continued to decrease in September

In September, Estonia’s exports of goods amounted to 1.19 billion euros and imports to 1.36 billion euros at current prices. The trade deficit was 157 million euros, which is 73 million euros more than in September 2018.

The top destination countries of Estonia’s exports were Finland (17% of total exports), Sweden (10%) and Latvia (9%). The biggest decrease occurred in exports to USA (down 58 million euros) and Singapore (down by 32 million euros), while exports to Denmark increased (up by 21 million euros). Exports of electrical equipment decreased to the USA; exports of mineral products decreased to Singapore, but increased to Denmark.

The biggest exports from Estonia were electrical equipment, mineral products, agricultural products and food preparations (each 12% of Estonia’s total exports). Nevertheless, the greatest impact on the decline in exports came from mineral products (down by 66 million euros) and electrical equipment (down by 55 million euros). Exports increased the most for agricultural products and food preparations (up by 49 million euros).

Goods of Estonian origin accounted for 72% of the total exports of goods. Their exports decreased by 2% and re-exports by 5% compared to September 2018. This was due to the decrease in exports of electrical equipment (communication equipment) and mineral products (oil, electricity). The biggest increase occurred in exports of agricultural products and food preparations (wheat, barley).

The main countries of consignment were Finland (13% of total imports), Germany and Lithuania (both 10%). Imports increased the most from Latvia (up by 19 million euros), Germany (up by 18 million euros) and USA (up by 14 million euros). The biggest increases were in imports of mineral products from Latvia (motor spirit), transport equipment (passenger cars) from Germany and electrical equipment from the USA (parts of communication equipment). Imports decreased the most from Russia (down by 31million euros) mainly on account of mineral products.

The main commodities imported to Estonia were electrical equipment and mineral products (both 12% of total imports) and mechanical appliances (11%). The biggest increase occurred in the imports of agricultural products and food preparations, and raw materials and products of chemical industry (both up by 24 million euros) and transport equipment (up by 21 million euros). The imports of mineral products (down by 49 million euros) and electrical equipment (down by 14 million euros) decreased the most.

In the third quarter of 2019, exports of goods from Estonia amounted to 3.5 billion euros and imports to Estonia nearly 4 billion euros. The trade deficit was 458 million euros in the third quarter, which is by 86 million euros more than in the third quarter of 2018. In the third quarter, Estonia exported goods to 162 countries and imported goods from 114 countries. During the nine months this year, the exports of goods increased 2% and imports 1% compared to the same period last year.

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 October 2019, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 21 October 2019. Statistics Estonia published the monthly summary of foreign trade in 14 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.