In March the trade increased in all commodity sections

In March exports of goods grew by 16% or 1.4 billion kroons and imports 27% or 2.7 billion kroons compared to March 2009. The trade deficit amounted to 2.8 billion kroons, which was nearly two times more than in March of the previous year.

In March, the biggest share in Estonia’s total exports was held by the commodities of machinery and equipment (a fifth of Estonia’s total exports) and mineral products (13%). Compared to March of the previous year, the exports of all commodity sections increased. The biggest increase was in exports of wood and products thereof, as well as in agricultural products and food preparations (by 0.2 billion kroons both).

In March the biggest share in imports was held by mineral products (19% of Estonia’s total imports) and machinery and equipment (13%). Compared to March of the previous year, the turnover of imports increased in all commodity sections. The significant increase in imports was influenced by some extraordinary single transactions. Arrivals of transport equipment increased the most (by 0.6 billion kroons), as well as imports of mineral products (by 0.5 billion kroons).

The main countries of destination were Finland (19% of Estonia’s total exports), Sweden, Latvia and Russia.  Machinery and equipment accounted for the biggest share of exports to these countries. Compared to March of the previous year, exports to France, Russia, Latvia and Finland increased the most (by 0.2 billion kroons each).

The main countries from where goods were imported to Estonia were Finland (15% of Estonia’s total imports), Sweden and Latvia. Machinery and equipment accounted for the biggest share of imports from Finland and Sweden, and mineral products for the largest share of goods imported from Latvia.  The biggest increase was announced in imports from Sweden (0.7 billion kroons), Finland (0.5 billion kroons) and Norway (0.4 billion kroons).

In the 1st quarter of 2010 exports from Estonia at current prices amounted to 27.5 billion kroons and imports to Estonia 30.6 billion kroons. Exports increased by 17% and imports by 12% compared to the 1st quarter of the previous year. The trade deficit was 3.1 billion kroons in the 1st quarter (3.9 billion kroons in the 1st quarter of 2009).

In March compared to February, exports of Estonia remained on the same level, imports increased by 30%.

The preliminary foreign trade data about March were released by Statistics Estonia on 10 May (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.