In August, Estonia’s foreign trade decreased again

In August, Estonia’s exports of goods amounted to 1.1 billion euros and imports to 1.2 billion euros at current prices. The trade deficit was 113 million euros; it increased by 15 million euros compared to August 2019.

According to Evelin Puura, leading analyst at Statistics Estonia, Estonia’s exports depend to a great extent on the economic situation in neighbouring countries Finland, Sweden and Latvia. “In August, the share of these three main partner countries accounted for a third of the exports of goods; the share of European Union countries was 67%. Dispatches to EU countries declined year on year by 62 million euros,” explained Puura.

In August, the top destination country of Estonia’s exports was Finland, followed by Sweden and Latvia. The biggest decreases occurred in exports to Finland (by 19 million euros) and Denmark (by 17 million euros). Compared to the previous year, less electrical equipment was exported to Finland and less shale oil to Denmark. Exports increased the most to China (by 17 million euros) and the United Kingdom (by 11 million euros). Compared to last year, more electrical equipment was exported to China and more ethyl alcohol based disinfection products and wood pellets were exported to the United Kingdom.

The biggest exports from Estonia were electrical equipment, wood and articles of wood, agricultural products and food preparations, and miscellaneous manufactured articles. Compared to August 2019, the exports of mineral products declined by 33 million euros. The biggest increase (by 9 million euros) occurred for exports of wood and articles of wood.

Of the total exports of goods, the goods of Estonian origin accounted for 71%. Their exports decreased by 5% and re-exports by 8%, compared to last year’s August. The biggest decrease occurred in the exports of shale oil of Estonian origin and the biggest increases in the exports of wood pellets, strips of coniferous wood, veneer, thermometers and parts of measuring instruments.

The main countries of consignment were Finland, Germany and Lithuania. Imports decreased the most from Lithuania (by 17 million euros) and Finland (by 16 million euros). From Lithuania, the imports of motor fuel decreased the most; from Finland, the imports of scrap metal. The imports of goods increased the most from China (by 17 million euros), with more electrical equipment imported.

The main commodities imported to Estonia were electrical equipment, agricultural products and food preparations, and mechanical appliances. The biggest decreases occurred in the imports passenger cars and motor fuels.

Statistics Estonia performs the statistical activity “Foreign trade” for the Ministry of Economic Affairs and Communications with the aim to determine how exporting and importing enterprises are performing in Estonia.

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. Visualized data of Estonia’s foreign trade can be viewed in Statistics Estonia’s application

For further information:
Kaia-Liisa Tabri
Communications Partner
Marketing and Dissemination Department
Statistics Estonia
Tel +372 507 0521