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In November the share of euro area in Estonia’s exports was below a third

News
Posted on 24 January 2011, 10:00
According to Statistics Estonia, in November last year exports of goods from Estonia amounted to 861 million euros and imports to Estonia to 901 million euros at current prices. Exports to the euro area countries comprised 29% of Estonia’s total exports and imports from euro area 38% of total imports.

In November 2010 compared to November 2009, exports of goods grew by 48% and imports by 38% at current prices. Trade deficit decreased due to the bigger growth of exports compared to that of imports. Trade deficit was registered as 40 million euros. Estonia’s trade deficit with euro area countries amounted to 96 million euros.

The first place among Estonia’s export destination countries was held by Sweden (20% of Estonia’s total exports), followed by Finland (17%) and Russia (10%). Compared to November 2009, exports to Sweden increased more than twofold or by 97 million euros. Exports also increased significantly to Finland (31%) and Russia (47%). Electrical equipment and wood and products thereof were mainly exported to Sweden, electrical equipment and furniture to Finland, and mechanical equipment and beverages and alcohol to Russia.

The main countries from where goods were imported to Estonia in November were Finland (15% of Estonia’s total imports), Sweden and Germany (11% from each). Compared to November 2009, arrivals from Sweden increased the most (by 44 million euros). Arrivals from Russia and Finland also increased significantly. Electrical equipment and oil products were mainly imported from Finland, electrical and mechanical equipment from Germany, and electrical equipment and vehicles and parts thereof from Sweden.

In November, the biggest share in Estonia’s exports was held by the commodities of machinery and equipment (28% of Estonia’s total exports), mineral products (13%), and agricultural products and food preparations (10%). Exports of machinery and equipment increased more than twofold compared to November 2009. Exports of metals and products thereof and wood and products thereof also increased significantly (68% and 44%, respectively).

In November the biggest share in Estonia’s imports was also held by machinery and equipment (27% of Estonia’s total imports), mineral products (15%) and agricultural products and food preparations (10%). Arrivals of machinery and equipment increased by nearly twofold compared to November 2009. Imports of metals and products thereof also increased significantly (52%).

Estonia’s exports increased by 32% and imports 26% during the period of January–November compared to the same period in 2009.

Regarding the Baltic countries, in November last year exports grew by 29% in Latvia and 48% in Lithuania. Imports grew by 38% in Latvia and 50% in Lithuania.

Estonia’s foreign trade, January–November, 2009–2010
Month Exports, million euros Imports, million euros Balance, million euros
2009 2010 change, % 2009 2010 change, % 2009 2010
January 465 521 12 566 543 -4 -101 -22
February 500 629 26 561 610 9 -61 19
March 533 629 18 628 803 28 -95 -174
April 494 681 38 600 697 16 -106 -16
May 522 729 40 547 793 45 -25 -64
June 610 663 9 627 763 22 -17 -100
July 527 700 33 604 740 23 -77 -40
August 519 716 38 584 777 33 -65 -61
September 603 847 40 636 852 34 -33 -5
October 572 845 48 617 855 39 -45 -10
November 582 861 48 654 901 38 -72 -40

Main foreign trade partners of Estonia, November 2010
Country of
destination,
group of
countries		 Exports,
million
euros		 Share,
%		 Change
compared to
same month
of previous
year, %		 Country of
consignment,
group of
countries		 Imports,
million
euros		 Share,
%		 Change
compared to
same month
of previous
year, %
TOTAL 861 100 48 TOTAL 901 100 38
EU 594 69 49 EU 719 80 30
Euro area 246 29 18 Euro area 342 38 38
CIS 114 13 54 CIS 97 11 87
1. Sweden 168 20 137 1. Finland 132 15 43
2. Finland 143 17 31 2. Sweden 101 11 77
3. Russia 88 10 47 3. Germany 100 11 35
4. Latvia 72 8 44 4. Latvia 88 10 9
5. Germany 43 5 39 5. Russia 81 9 103
6. Lithuania 40 5 48 6. Lithuania 67 7 -28
7. Norway 35 4 67 7. Poland 63 7 70
8. USA 30 3 7 8. Netherlands 33 4 50
9. Guatemala 24 3 - 9. China 30 3 173
10. Denmark 21 2 31 10. United Kingdom 22 2 83

Exports and imports by commodity sections, November 2010
Commodity section by
Combined Nomenclature (CN)		 Exports Imports Balance,
million
euros
million
euros		 share,
%		 change
compared to
same month
of previous
year, %		 million
euros		 share,
%		 change
compared to
same month
of previous
year, %
TOTAL 861 100 48 901 100 38 -40
Agricultural products and food preparations (I–IV) 84 10 20 94 10 15 -10
Mineral products (V) 111 13 10 133 15 1 -22
Raw materials and products of chemical industry (VI) 39 4 18 71 8 18 -32
Articles of plastics and rubber (VII) 29 3 53 54 6 50 -25
Wood and products thereof (IX) 78 9 44 26 3 44 52
Paper and articles thereof (X) 27 3 35 24 3 14 3
Textiles and products thereof (XI) 23 3 15 42 5 27 -19
Metals and products thereof (XV) 74 9 68 81 9 50 -7
Machinery and equipment (XVI) 237 28 130 243 27 91 -6
Transport equipment (XVII) 49 6 32 59 6 40 -10
Miscellaneous manufactured articles (XX) 66 8 32 23 2 28 43
Other 44 4 42 51 6 65 -7

The preliminary foreign trade data about November were released by Statistics Estonia on 11th January (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.