New trade record was set in April
According to Statistics Estonia, in April 2011, the exports of goods from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.2 billion euros at current prices. Exports as well as imports of goods exceeded the highest turnover so far or the turnover of March this year. The growth in trade was significantly influenced by the machinery and equipment and mineral products.
In April 2011, exports grew by 60% and imports by 68% compared to the same month of the previous year. Due to a faster growth in imports than in exports, the foreign trade deficit also increased. In April 2010, the trade deficit was 17 million euros, but in April this year the trade deficit was 87 million euros.
In Estonia’s exports in April the biggest shares were held by machinery and equipment (27% of Estonia’s total exports), mineral products (incl. motor spirits, fuel oils and electricity) – 23% and metals and products thereof (9%). Compared to April 2010, exports of machinery and equipment and mineral products increased the most, both 2.3 times.
In April the biggest shares of Estonia’s imports were held by mineral products (27% of Estonia’s total imports), machinery and equipment (25%), and agricultural products and food preparations (8%). Compared to April 2010, arrivals of mineral products and machinery and equipment increased the most (2.7 and 2.1 times, respectively). Imports of transport equipment also increased significantly (79%).
The first place among destination countries of exports was held by Sweden (18% of Estonia’s total exports), followed by Finland (14%) and Russia (8%). Compared to April 2010, exports increased the most to Sweden and France (by 102 and 56 million euros, respectively). Electrical equipment and fuels were mainly exported to Sweden, electrical equipment and furniture to Finland and mechanical and electrical equipment to Russia.
For the second month in succession, the largest amounts of goods were imported from Russia (16% of Estonia’s total imports in April), followed by Latvia and Sweden (12% and 11%, respectively). During the year, arrivals of goods from Russia and Sweden have increased the most (122 and 58 million euros, respectively). From Russia, mainly fuels and wood and products thereof were imported, from Latvia – fuels and electrical equipment, and from Sweden – electrical equipment and vehicles.
In April compared to March, exports increased by 0.1% and imports 0.2%.
Estonia’s trade by months, 2008–2011
| Month | Exports, million euros | Imports, million euros | Balance, million euros | |||||
|---|---|---|---|---|---|---|---|---|
| 2010 | 2011 | change, % | 2010 | 2011 | change, % | 2010 | 2011 | |
| January | 519.5 | 818.3 | 58 | 543.3 | 897.8 | 65 | -23.8 | -79.5 |
| February | 628.7 | 842.8 | 34 | 608.3 | 889.7 | 46 | 20.4 | -46.9 |
| March | 628.6 | 1 087.1 | 73 | 802.3 | 1 173.4 | 46 | -173.7 | -86.3 |
| April | 680.7 | 1 087.9 | 60 | 697.9 | 1 175.2 | 68 | -17.2 | -87.3 |
| Country of destination, group of countries | Exports, million euros | Change compared to same month of previous year, % | Share, % | Country of consignment, group of countries | Imports, million euros | Change compared to same month of previous year, % | Share, % |
|---|---|---|---|---|---|---|---|
| TOTAL | 1 087.9 | 100 | 60 | TOTAL | 1 175.2 | 100 | 68 |
| EU27 | 757.6 | 70 | 59 | EU27 | 854.1 | 73 | 52 |
| EA17 | 340.3 | 31 | 51 | EA17 | 356.3 | 30 | 32 |
| CIS | 115.0 | 11 | 49 | CIS | 214.8 | 18 | 165 |
| 1. Sweden | 195.9 | 18 | 108 | 1. Russia | 187.7 | 16 | 185 |
| 2. Finland | 151.9 | 14 | 24 | 2. Latvia | 139.1 | 12 | 53 |
| 3. Russia | 91.8 | 8 | 49 | 3. Sweden | 131.0 | 11 | 80 |
| 4. USA | 70.3 | 6 | 101 | 4. Finland | 129.9 | 11 | 23 |
| 5. Latvia | 68.3 | 6 | 16 | 5. Germany | 115.6 | 10 | 37 |
| 6. France | 67.0 | 6 | 526 | 6. Lithuania | 78.5 | 7 | 74 |
| 7. Denmark | 58.5 | 5 | 161 | 7. Poland | 78.3 | 7 | 75 |
| 8. Nigeria | 49.6 | 5 | 119 | 8. China | 40.8 | 3 | 146 |
| 9. Germany | 45.3 | 4 | 17 | 9. Netherlands | 32.8 | 3 | 66 |
| 10. Lithuania | 44.1 | 4 | 34 | 10. United Kingdom | 30.5 | 3 | 152 |
| 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 | 1 087.9 | 100 | 60 | 1 175.2 | 100 | 68 | -87.3 |
| Agricultural products and food preparations (I–IV) | 67.3 | 6 | 6 | 97.6 | 8 | 20 | -30.3 |
| Mineral products (V) | 253.5 | 23 | 132 | 313.9 | 27 | 175 | -60.4 |
| Raw materials and products of chemical industry (VI) | 39.5 | 4 | 20 | 80.4 | 7 | 27 | -40.9 |
| Articles of plastics and rubber (VII) | 28.0 | 2 | 27 | 50.3 | 4 | 22 | -22.3 |
| Wood and products thereof (IX) | 83.0 | 8 | 16 | 27.6 | 2 | 20 | 55.4 |
| Paper and articles thereof (X) | 27.7 | 2 | 28 | 19.6 | 2 | 13 | 8.1 |
| Textiles and products thereof (XI) | 28.5 | 3 | 16 | 41.5 | 4 | 6 | -13.0 |
| Metals and products thereof (XV) | 93.5 | 9 | 24 | 93.2 | 8 | 28 | 0.3 |
| Machinery and equipment (XVI) | 293.1 | 27 | 128 | 296.0 | 25 | 111 | -2.9 |
| Transport equipment (XVII) | 54.2 | 5 | 31 | 86.4 | 7 | 79 | -32.2 |
| Miscellaneous manufactured articles (XX) | 68.7 | 6 | 27 | 17.7 | 2 | 5 | 51.0 |
| Other | 50.9 | 5 | 42 | 51.0 | 4 | 29 | -0.1 |