In May the growth in exports and imports of goods accelerated

In May the exports of goods from Estonia amounted to 11.3 billion kroons (723 million euros) and imports to Estonia totalled 12.5 billion kroons (800 million euros) at current prices. Exports were bigger than that last in October 2008. Exports increased by 3.1 billion kroons (201 million euros) and imports by 4 billion kroons (256 million euros) compared to May of the previous year. Due to a faster growth in imports compared to exports, the foreign trade deficit increased amounting to 1.2 billion kroons (77 million euros) in May. Trade deficit was more than three times bigger compared to May of the previous year.

The value of goods exported from Estonia to the European Union (EU) countries amounted to 7.4 billion kroons (470 million euros) accounting for nearly two thirds of Estonia’s total exports. Exports to the EU countries increased by 29% compared to May of the previous year. Exports to non-EU countries or the so-called third countries increased by 61%.

Imports from the EU countries to Estonia totalled 9.9 billion kroons (630 million euros) with the share of 79% of Estonia’s total imports. Imports from the EU countries increased by 45% compared to May of the previous year. Imports from the so-called third countries increased by 55%.

Trade deficit between the EU countries comprised 2.5 billion kroons (160 million euros). The surplus of 1.3 billion kroons (83 million euros) was announced in the trade with third countries.
In May compared to April, exports grew by 6% and imports by 14%.

Estonian foreign trade, January 2009 – May 2010

Statistics Estonia releases the first estimates about foreign trade on the 40th day after the end of the reference period. The estimates are revised on the 54th day. On the 23rd of July, Statistics Estonia will release a more detailed overview about foreign trade in May. The trade data in euros have been published in the Statistical Database.