Growth in foreign trade in services slowed down in the first quarter
According to Statistics Estonia and Eesti Pank, in the first quarter of 2024, Estonia’s exports of services grew by 2%, while imports were unchanged from the same period last year. Sales of services to non-residents totalled €2.8 billion and purchases of services from non-residents amounted to €2.2 billion at current prices. The balance of foreign trade in services was in surplus by €595 million, which is €45 million more than a year earlier.
Jane Leppmets, analyst at Statistics Estonia, noted that the growth in foreign trade in services in the first quarter was smaller than the year before. “In the fourth quarter of 2023, exports of services increased by 6% and imports by 8%, and last year as a whole, both exports and imports of services increased by 9%. In the first quarter of 2024, however, such growth figures were no longer seen,” Leppmets added.
The most exported services in the first quarter were other business services (incl. other business support services, advertising and management services), worth €831 million. This was followed by exports of telecommunications, computer and information services (incl. computer programming and consultancy) for €691 million, and exports of transport services (incl. road freight transport) for €592 million. Compared with the first quarter of 2023, the biggest increase occurred in exports of telecommunications, computer and information services, while the largest decrease was observed in exports of transport services.
The top partner country for Estonia’s exports of services was Finland (15% of total exports), with travel and transport services being the biggest export items. Finland was followed by the United States, Germany and Sweden (all accounting for 7% of total exports). Telecommunications, computer and information services were the most exported services to the United States and Sweden, and other business services to Germany. The biggest rise was seen in exports of services to Hungary (up by €33 million) and the USA (by €30 million). The greatest fall, however, was recorded in exports to Latvia (down by €47 million) and Russia (by €33 million).
The main services imported to Estonia in the first quarter were other business services (incl. other business support services, management and advertising services) for €645 million. This was followed by transport services (incl. road and sea freight transport) for €559 million, and telecommunications, computer and information services (incl. computer programming and consultancy) for €447 million. Compared with the first quarter of 2023, the biggest rise occurred in imports of construction services (up by €46 million). Imports of transport services declined the most – by €66 million.
The top partner countries for imports of services in the first quarter were Germany (8% of Estonia's total imports), Lithuania and Finland (7% of total imports each). The main services purchased were transport services from Germany and Finland and other business services from Lithuania. The biggest increase was recorded in imports of services from Hungary (up by €57 million) and the USA (by €26 million). The largest decrease was seen in imports from Ireland (down by €51 million) and Russia (by €31 million).
| Country of destination, group of countries | Exports, million euros | Share, % | Change on previous year, % | Country of consignment, group of countries | Imports, million euros | Share, % | Change on previous year, % |
|---|---|---|---|---|---|---|---|
| TOTAL | 2,755 | 100 | 2 | TOTAL | 2,160 | 100 | 0 |
| EU-27 | 1,856 | 67 | 4 | EU-27 | 1,556 | 72 | 2 |
| Euro area 20 | 1,406 | 51 | 2 | Euro area 20 | 1,176 | 54 | -4 |
| Non-EU | 899 | 33 | -2 | Non-EU | 604 | 28 | -4 |
| 1. Finland | 406 | 15 | -2 | 1. Germany | 176 | 8 | 10 |
| 2. USA | 193 | 7 | 18 | 2. Lithuania | 160 | 7 | -1 |
| 3. Germany | 189 | 7 | 17 | 3. Finland | 159 | 7 | -5 |
| 4. Sweden | 180 | 7 | -13 | 4. Latvia | 127 | 6 | -5 |
| 5. United Kingdom | 166 | 6 | 6 | 5. United Kingdom | 119 | 6 | 13 |
| 6. Latvia | 139 | 5 | -25 | 6. Ireland | 114 | 5 | -31 |
| 7. Lithuania | 128 | 5 | -9 | 7. Sweden | 111 | 5 | 0 |
| 8. Netherlands | 98 | 4 | 5 | 8. Poland | 97 | 4 | 11 |
| 9. France | 72 | 3 | 7 | 9. USA | 94 | 4 | 38 |
| 10. Poland | 68 | 2 | 13 | 10. Netherlands | 87 | 4 | 21 |
| Type of service (according to EBOPS 2010) | Exports of services | Imports of services | Balance, million euros | ||||
|---|---|---|---|---|---|---|---|
| Million euros | Share,% | Change on previous year, % | Million euros | Share, % | Change on previous year, % | ||
| TOTAL | 2,755 | 100 | 2 | 2,160 | 100 | 0 | 595 |
| Manufacturing services on physical inputs owned by others (SA) | 84 | 3 | 0 | 32 | 1 | -20 | 53 |
| Maintenance and repair services n.i.e. (SB) | 67 | 2 | 25 | 28 | 1 | -13 | 39 |
| Transport (SC) | 592 | 22 | -10 | 559 | 26 | -11 | 34 |
| Travel (SD) | 272 | 10 | 4 | 264 | 12 | 7 | 8 |
| Construction (SE) | 94 | 3 | 10 | 65 | 3 | 233 | 29 |
| Insurance and pension services (SF) | 3 | 0 | -38 | 13 | 1 | 3 | -10 |
| Financial services (excl. insurance and pension services) (SG) | 47 | 2 | 2 | 46 | 2 | 8 | 2 |
| Charges for the use of intellectual property n.i.e. (SH) | 27 | 1 | -7 | 28 | 1 | 40 | 0 |
| Telecommunications, computer and information services (SI) | 691 | 25 | 14 | 447 | 21 | 10 | 244 |
| Other business services (SJ) | 831 | 30 | 0 | 645 | 30 | -4 | 186 |
| Personal, cultural and recreational services (SK) | 29 | 1 | -12 | 22 | 1 | -14 | 7 |
| Government goods and services (SL) | 15 | 1 | 16 | 11 | 1 | 25 | 5 |
Statistics Estonia collects and analyses the data on foreign trade in services in cooperation with Eesti Pank, as commissioned by the Ministry of Economic Affairs and Communications, with the aim to determine how exporting and importing enterprises are performing in Estonia.
See also the foreign trade section on our website.
More detailed data have been published in the statistical database. Due to rounding, the sum of rows in some tables may differ from the sum total of the column.
When using Statistics Estonia’s data and graphs, please indicate the source.
For further information:
Heidi Kukk
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372,625 9181
press [at] stat.ee (press[at]stat[dot]ee)