In November exports declined

In November, exports from Estonia amounted to 1.06 billion euros and imports to Estonia to 1.15 billion euros. The trade deficit totalled 96 million euros (there was a surplus of 10 million euros in November 2012).

In Estonia’s exports, the biggest share was held by electrical equipment (19% of Estonia’s total exports), followed by agricultural products and food preparations (13%) and mineral products (incl. motor spirits, shale oil, electricity) (11%).

The decrease in exports in November 2013 compared to November 2012 was mainly influenced by the decrease in the dispatches of electrical equipment and chemical products (incl. organic chemicals) (down by 23% and 30%, respectively). At the same time, the dispatches of wood and products thereof and transport equipment increased (up by 14% and 18%, respectively).

In November the biggest share of Estonia’s imports was held by electrical equipment (17% of Estonia’s total imports), followed by mineral products (13%) and agricultural products and food preparations (12%). Arrivals of electrical equipment decreased the most (by 21%). At the same time, arrivals of transport equipment (incl. vehicles and railway rolling stock) and mineral products (incl. motor spirits) increased (by 32% and 20%, respectively).

The top destination countries of Estonia’s exports were Sweden (18% of Estonia’s total exports), followed by Finland (15%) and Russia (13%). The decrease in total exports compared to November 2012 was mainly influenced by the decrease in the dispatches to Russia and Sweden (down by 19% or 10%). The fall in exports to Russia was mainly influenced by the decline in the dispatches of organic chemicals; exports to Sweden decreased mainly due to the decrease in the dispatches of electrical equipment. At the same time, exports to Latvia and the United Kingdom increased (by 7% and 34%, respectively). The growth of exports to Latvia was supported by mineral products (incl. electricity). Exports to the United Kingdom were boosted by the increase in the dispatches of electrical equipment.

In November, the main countries of consignment were Finland (14% of Estonia’s total imports), Germany (11%) and Lithuania (10%). In November 2013 compared to November 2012, the growth of imports was slowed down by the fall in the arrivals from Sweden and Latvia (both down by 9%). Imports from those countries decreased mainly due to the decrease in the arrivals of electrical equipment. At the same time, arrivals of goods from Lithuania increased by 15% and from Russia by 18%, mainly due to the increase in the arrivals of mineral products.

In November compared to October 2013, exports decreased by 4% and imports by 6%. The monthly decrease in exports was mostly influenced by the decrease in the dispatches of electrical equipment and metal scrap, while imports decreased mainly due to the decrease in the  arrivals of railway rolling stock and mechanical equipment.

In November 2013 compared to the same month of 2012, export prices fell by 1.5%, while import prices rose by 1.2%.