In May exports of goods increased

In May, exports from Estonia amounted to 1.11 billion euros and imports to Estonia to 1.16 billion euros at current prices. The trade deficit was 54 million euros. The deficit decreased by 54% compared to May 2012, since the growth in exports was faster than in imports.

The top destination countries of Estonia’s exports were Sweden (18% of Estonia’s total exports), followed by Finland (15%) and Russia (12%). Exports increased to all main partner countries, excl. Germany. Compared to May 2012, the increase in total exports was mostly influenced by the increase in the dispatches to Sweden and Russia (up by 18% and 15%, respectively). Electrical equipment and wood and furniture were the main commodities exported to Sweden and Finland; mechanical equipment and furniture were the main articles exported to Russia.

In May, the main countries of consignment were Finland (13% of Estonia’s total imports), Sweden (11%)  and Germany (11%). Compared to May of the previous year, arrivals of goods from Russia and Finland decreased (down by 54% and 2%, respectively). At the same time, arrivals of goods from Poland and Sweden increased (up by 51% and 25%, respectively). Electrical equipment was the main commodity imported from Finland, Sweden and Poland; vehicles and parts thereof was the main commodity imported from Germany.

In Estonia’s exports in May, the biggest share was held by machinery and equipment (30% of Estonia’s total exports), followed by mineral fuels (11%) and agricultural products and food preparations (9%). The increase in exports compared to May 2012 was mainly influenced by the increase in the dispatches of machinery and equipment (8% growth) and agricultural products and food preparations (21% growth). At the same time, the dispatches of metals and products thereof decreased significantly (down by 28%).

In May the biggest share of Estonia’s imports was held by machinery and equipment (32% of Estonia’s total imports), followed by agricultural products and food preparations (11%) and mineral fuels (11%). The arrivals of machinery and equipment increased by 12% while arrivals of mineral fuels decreased by 27%.

Compared to April 2013, exports increased by 3%, while imports decreased by 4%. The monthly increase in exports was influenced by the increase in the dispatches of mineral fuels.

In May 2013, compared to May of the previous year, export prices fell by 2% and import prices by 3%.