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In October exports of goods to Russia declined the most

News
Posted on 28 December 2009, 10:00

According to Statistics Estonia, in October 2009 exports of goods from Estonia at current prices totalled about 9 billion kroons and imports to Estonia amounted to 9.8 billion kroons. Exports to Russia declined the most compared to October 2008.

In October exports of goods from Estonia decreased 32% (4.3 billion kroons) and imports 38% (5.9 billion kroons) compared to the same month of the previous year. The decline was partly caused by the high comparative base of the previous year (in October 2008 exports was registered as the biggest in the year).The trade deficit of Estonia amounted to 0.8 billion kroons, which was nearly three times less than in October 2008.

In October 2009 exports to Russia declined 43% (0.8 billion kroons) compared to the same month of 2008. The biggest decline was mentioned in exports of transport equipment and parts thereof and in prepared foodstuffs. If total exports of Estonia declined 27% and imports 37% in the period of January-October, then exports to Russia declined by a third and imports from Russia by only 15%. As exports declined more than imports, the trade balance with Russia became passive.

In October, the main countries of destination from Estonia were Finland (19% of the total exports), Sweden (12%) and Russia (11%). Exports to Russia declined significantly as well as to Finland and Sweden. The main countries from where goods were imported to Estonia in October were Finland (16% of the total imports), Latvia (11%) and Germany (10%). Imports of goods from Lithuania, Germany and Russia declined the most.

In October, both in exports and imports machinery and equipment held the biggest share accounting for about one fifth in both flows. Compared to October of the previous year, exports of machinery and equipment declined also the most (by 1.1 billion kroons). In imports the biggest decline was mentioned in the arrivals of mineral products (by 1.2 billion kroons).

Compared to September 2009, exports of goods from Estonia decreased 5% and imports 3%.

Estonia’s foreign trade, January–October, 2008–2009
Month Exports,
million kroons		 Imports,
million kroons 		Balance,
million kroons
2008 2009 change, % 2008 2009 change, % 2008 2009
January 10 154 7 270 -28 13 725 8 791 -36 -3 571 -1 521
February 10 677 7 815 -27 13 641 8 718 -36 -2 964 -903
March 10 647 8 340 -22 14 145 9 757 -31 -3 498 -1 417
April 12 332 7 734 -37 15 916 9 271 -42 -3 583 -1 538
May 11 549 8 181 -29 14 506 8 457 -42 -2 958 -276
June 10 862 9 559 -12 14 140 9 878 -30 -3 278 -319
July 10 969 8 242 -25 15 047 9 440 -37 -4 079 -1 198
August 11 142 8 136 -27 13 420 9 307 -31 -2 277 -1 171
September 12 300 9 437 -23 15 195 10 126 -33 -2 895 -689
October 13 249 8 945 -32 15 656 9 774 -38 -2 407 -829
Total 113 880 83 659 -27 145 390 93 520 -37 -31 510 -9 861

Main foreign trade partners of Estonia, October 2009
Country of
destination,
group of
countries		 Exports,
million
kroons		 Share,
%		 Change
compared to
same month
of previous
year, % 		Country of
consignment,
group of
countries		 Imports,
million
kroons		 Share,
%		 Change
compared to
same month
of previous
year, %
Total 8 945 100 -32 Total 9 774 100 -38
EU27 6 349 71 -24 EU27 8 039 82 -35
CIS 1 234 14 -45 CIS 915 9 -54
1. Finland 1 707 19 -25 1. Finland 1 550 16 -27
2. Sweden 1 076 12 -35 2. Latvia 1 122 11 -25
3. Russia 995 11 -43 3. Germany 1 012 10 -44
4. Latvia 994 11 -17 4. Sweden 950 10 -31
5. Germany 569 6 2 5. Lithuania 804 8 -52
6. Lithuania 416 5 -39 6. Poland 677 7 -6
7. USA 382 4 -53 7. Russia 566 6 -54
8. Norway 367 4 -2 8. Netherlands 381 4 -12
9. Denmark 277 3 -20 9. United Kingdom 247 3 -58
10. Netherlands 263 3 -6 10. Belarus 242 2 -56

Exports and imports by commodity sections, October 2009
Commodity section by
Combined Nomenclature (CN)		 Exports Imports Balance,
million
kroons
million
kroons		 share,
%		 change
compared to
same month
of previous
year, %		 million
kroons		 share,
%		 change
compared to
same month
of previous
year, %
TOTAL 8 945 100 -32 9 774 100 -38 -829
Agricultural products and food preparations (I–IV) 1 071 12 -23 1 231 13 -26 -160
Mineral products (V) 971 11 -51 1 620 17 -43 -649
Raw materials and products of chemical industry (VI) 530 6 -34 924 9 -28 -394
Articles of plastics and rubber (VII) 342 4 -15 633 6 -19 -291
Wood and products thereof (IX) 844 10 -8 324 3 -2 520
Paper and articles thereof (X) 300 3 -11 279 3 -16 21
Textiles and products thereof (XI) 355 4 -27 618 6 -21 -262
Metals and products thereof (XV) 877 10 -38 767 8 -50 110
Machinery and equipment (XVI) 1 710 19 -39 1 999 20 -37 -289
Transport equipment (XVII) 577 6 -48 546 6 -67 32
Miscellaneous manufactured articles (XX) 831 9 -5 264 3 -27 566
Other 536 6 -26 569 6 -39 -33

The preliminary foreign trade data about October were released by Statistics Estonia on the 10th of December (on the 40th day after the end of the reference period). This news release provides the revised data and offers a more detailed overview of trade about the month under observation.