In February trade declined compared to the previous year

In February 2013, exports from Estonia amounted to 1 billion euros and imports to Estonia totalled 1.1 billion euros at current prices. Trade deficit was registered as 105 million euros, which is the same level as in February 2012 when the deficit was 110 million euros.

In February, machinery and equipment held the biggest share in Estonia’s exports (30% of Estonia’s total exports), followed by mineral fuels (13%) and agricultural products and food preparations (10%). The decrease in Estonia’s total exports was influenced by the 37% decrease in the dispatches of mineral fuels (incl. petrol, shale oils and electricity). There was also a decrease in the dispatches of metals and products thereof. At the same time, there was an increase in the dispatches of agricultural products and food preparations (up by 27% and 18%, respectively). Exports of those goods grew mainly due to an increase in the dispatches of goods of Estonian origin.

In February, the biggest share of Estonia’s imports was held by machinery and equipment (27% of Estonia’s total imports), followed by mineral fuels (14%) and agricultural products and food preparations (10%). The decline in Estonia’s total imports was mostly influenced by the decrease in the arrivals of mineral fuels (down by 34%). At the same time, arrivals of machinery and equipment and agricultural products and food preparations increased (up by 15% and 17%, respectively).

The top destination countries of Estonia’s exports were Sweden (18% of Estonia’s total exports), followed by Finland (15%) and Russia (11%). The decrease in Estonia’s total exports compared to February 2012 was significantly influenced by the decrease in dispatches to the USA (down by 60%). At the same time, exports to Latvia and Lithuania increased (by 22% and 34%, respectively). Electrical equipment, wood and products thereof and furniture were the main commodities exported to Sweden and Finland; machinery and equipment and plastics and articles thereof were the main items exported to Russia.

The main countries of consignment were Finland (14% of Estonia’s total imports), followed by Latvia and Germany (both 11%). The decrease in imports was mostly influenced by the decrease in arrivals from Lithuania and Germany (down by 15% and 10%, respectively). At the same time, there was an increase in the arrivals of goods from the Netherlands (up by 34%). Fuels and electrical equipment were the main commodities imported from Finland and Latvia, while electrical and mechanical equipment was the main commodity imported from Germany.

Estonia’s trade decreased also on a monthly basis. Compared to January, exports decreased by 15% and imports by 7% in February. The decrease in trade in February was influenced both by the different number of working days as well as by the non-recurrent big-volume trade transactions with transport equipment in January.

Export prices fell by 1% in January-February. Import prices remained on the same level as in the same period in 2012.