In September the trade deficit was the smallest of this year

In September, exports increased by 30% and imports by 29% compared to the same month of the previous year. This year, the growth of exports and imports has not been as small before on monthly basis. During the nine months (January–September 2011) the turnover of exports of goods from Estonia increased by 47% and of imports to Estonia by 44% compared to the same period of 2010.

The first place among the destination countries of exports was held by Sweden (16% of Estonia’s total exports), followed by Finland (15%) and Russia (13%). Electrical equipment, wood and articles of wood and furniture were mainly exported to Sweden and Finland, and mechanical equipment and organic chemicals to Russia. Compared to September of the previous year, exports increased the most to Russia and to the United States of America (by 58 and 46 million euros, respectively).

The largest amounts of goods were imported from Finland (14% of Estonia’s total imports), followed by Sweden (12%) and Latvia (11%). Electrical equipment was mostly imported from Finland and Sweden, fuels from Latvia. Compared to September of the previous year, the arrivals of goods from Latvia and Lithuania increased the most (by 33 and 29 million euros, respectively).

The trade surplus was mentioned in Estonia’s trade with the three biggest export destination countries (Sweden, Finland and Russia) or exports to those countries exceeded imports. The biggest trade surplus was registered in trade with Russia (88 million euros).

In September, the biggest shares in exports were held by machinery and equipment (27% of Estonia’s total exports), mineral products, incl. motor spirits, fuel oils and electricity (14%), and agricultural products and food preparations (10%). The growth of Estonia’s exports was mostly influenced by the dispatches of machinery and equipment, which grew by 43% compared to September 2010. The growth in exports was also influenced by the increase in the dispatches of mineral products, agricultural products and food preparations (growth rate 33% and 49%, respectively).

In September the biggest shares of imports were held by machinery and equipment (29% of Estonia’s total imports), mineral products (14%), and agricultural products and food preparations (9%). Similarly to exports, the growth of total imports was also mostly influenced by the arrivals of machinery and equipment, which increased by 38% compared to September 2010. The growth of imports was also influenced by the increase in the arrivals of mineral products and transport equipment (growth rate 34% and 66%, respectively).

In September compared to August, exports of goods increased by 6% and imports by 1%.

In September, export prices grew by 9% and import prices by 12% compared to the same month of the previous year.

Eesti kaubavahetus kuude kaupa, 2008–2011