In May foreign trade decreased
According to Statistics Estonia, in May 2015, exports of goods decreased by 6% and imports decreased by 10% compared to May of the previous year. The biggest decrease occurred in the exports and imports of agricultural products and food preparations, mechanical appliances and mineral products.
In May, exports from Estonia amounted to 0.96 billion euros and imports to Estonia to 1.04 billion euros at current prices. The trade deficit was 85 million euros and it decreased by 44 million euros compared to May 2014.
The biggest share in Estonia’s exports in May was held by electrical equipment (21% of Estonia’s total exports), followed by wood and products thereof (10%) and mineral products (10%). The biggest decrease occurred in the exports of agricultural products and food preparations (down by 18 million euros), mechanical appliances (down by 18 million euros) and mineral products (down by 13 million euros). Compared to May 2014 a significant increase occurred in the exports of electrical equipment (up by 9 million euros), and wood and products thereof (up by 3 million euros).
In May, the main commodities imported were electrical equipment (18% of Estonia’s total imports), agricultural products and food preparations (11%) and mechanical appliances (11%). Compared to May of last year, imports decreased in most sections. The drop in imports was influenced the most by a decrease in the imports of mineral products (down by 54 million euros); a decrease occurred also in the imports of agricultural products and food preparations (down by 12 million euros) and mechanical appliances (down by 10 million euros).
The top destination country of Estonia’s exports in May was Sweden (18% of Estonia’s total exports), followed by Finland (16%) and Latvia (11%). Electrical equipment and wood and products thereof were the main commodities exported to Sweden; electrical equipment and metals and products thereof were the main commodities exported to Finland; mineral products (incl. electricity) and agricultural products and food preparations were the main commodities exported to Latvia. The biggest decrease occurred in exports to Russia (down by 44 million euros), to Belgium (down by 24 million euros) and to Finland (down by 18 million euros). Exports to Russia were affected by a decrease in the exports of mechanical appliances (incl. bulldozers, excavators) and agricultural products and food preparations (incl. spirits, milk and dairy products). In the exports to Belgium there was a drop in the export of mineral products (incl. oil shale). Exports to Finland decreased regarding wood and products thereof, electrical equipment and textiles and products thereof. At the same time, there was a significant increase in exports to Sweden and Latvia (up by 18 million and 7 million euros, respectively). The increase in exports was mostly due to an increase in the exports of electrical equipment to Sweden and mineral products in Latvia. The main countries of consignment in May were Finland (15% of Estonia’s total imports), Germany (11%) and Lithuania (10%). The main commodities imported were electrical equipment and mineral products (incl. motor spirits, electricity) from Finland; mechanical appliances and transport equipment from Germany; and mineral products and agricultural products and food preparations from Lithuania. The biggest decrease occurred in imports from Russia (down by 40 million euros), Germany (down by 25 million euros) and Finland (down by 22 million euros). There was a decrease in the imports of mineral products from Russia, mineral products (incl. motor oils) and mechanical appliances from Germany and mineral products (incl. electricity and motor spirits). At the same time, there was an increase in imports from Lithuania and China (up by 12 million and 9 million euros, respectively). Imports from Lithuania rose mainly due to the increased imports of mineral products (incl. motor spirits), while the imports from China grew mainly due to the increased imports of mechanical appliances (incl. tools for working in the hand).
Compared to April 2015, both exports and imports of goods decreased by 8% in May.| Month | Exports, million euros | Imports, million euros | Balance, million euros | |||||
|---|---|---|---|---|---|---|---|---|
| 2014 | 2015 | change, % | 2014 | 2015 | change, % | 2014 | 2015 | |
| TOTAL | 4 897.3 | 4 828.2 | -1 | 5 596.6 | 5 334.2 | -5 | -699.2 | -506.0 |
| January | 907.6 | 921.3 | 2 | 1 018.7 | 957.4 | -6 | -111.1 | -36.1 |
| February | 923.6 | 859.9 | -7 | 1 047.8 | 1 005.8 | -4 | -124.2 | -145.9 |
| March | 1 023.0 | 1 052.3 | 3 | 1 199.5 | 1 199.8 | 0 | -176.5 | -147.6 |
| April | 1 028.2 | 1 038.7 | 1 | 1 178.1 | 1 130.2 | -4 | -149.8 | -91.5 |
| May | 1 014.9 | 956.0 | -6 | 1 152.5 | 1 040.9 | -10 | -137.6 | -84.9 |
| Country of destination, group of countries | Exports, million euros | Share, % | Change compared to same month of previous year, % | Country of consignment, group of countries | Imports, million euros | Share, % | Change compared to same month of previous year, % |
|---|---|---|---|---|---|---|---|
| TOTAL | 956.0 | 100 | -6 | TOTAL | 1 040.9 | 100 | -10 |
| EU-28 | 728.6 | 76 | -1 | EU-28 | 876.1 | 84 | -8 |
| EA19 | 465.3 | 49 | -6 | EA19 | 629.4 | 60 | -8 |
| CIS | 73.5 | 8 | -39 | CIS | 48.6 | 5 | -47 |
| 1. Sweden | 176.4 | 18 | 11 | 1. Finland | 155.2 | 15 | -12 |
| 2. Finland | 153.2 | 16 | -7 | 2. Germany | 116.0 | 11 | -17 |
| 3. Latvia | 108.6 | 11 | 7 | 3. Lithuania | 105.3 | 10 | 12 |
| 4. Russia | 61.4 | 6 | -42 | 4. Latvia | 93.2 | 9 | 0 |
| 5. Lithuania | 53.4 | 6 | -2 | 5. Sweden | 87.6 | 8 | -12 |
| 6. Germany | 51.7 | 5 | 4 | 6. Poland | 77.3 | 7 | -8 |
| 7. Norway | 39.9 | 4 | -20 | 7. Netherlands | 58.0 | 6 | -13 |
| 8. USA | 28.7 | 3 | -11 | 8. China | 46.4 | 4 | 25 |
| 9. Netherlands | 27.1 | 3 | -27 | 9. Russia | 40.3 | 4 | -50 |
| 10. Denmark | 26.3 | 3 | 4 | 10. United Kingdom | 25.9 | 2 | -35 |
| Commodity section (chapter) by Combined Nomenclature (CN) | Exports | Imports | Balance, million euros | ||||
|---|---|---|---|---|---|---|---|
| million euros | share, % | change compared to same period of previous year, % | million euros | share, % | change compared to same period of previous year, % | ||
| TOTAL | 956.0 | 100 | -6 | 1 040.9 | 100 | -10 | -84.9 |
| Agricultural products and food preparations (I–IV) | 89.9 | 9 | -17 | 111.3 | 11 | -10 | -21.4 |
| Mineral products (V) | 94.0 | 10 | -12 | 98.0 | 9 | -36 | -4.1 |
| Raw materials and products of chemical industry (VI) | 44.0 | 5 | -11 | 81.5 | 8 | -7 | -37.5 |
| Articles of plastics and rubber (VII) | 32.2 | 3 | -5 | 60.1 | 6 | -8 | -27.9 |
| Wood and products thereof (IX) | 99.4 | 10 | 4 | 35.2 | 3 | 2 | 64.2 |
| Paper and articles thereof (X) | 26.6 | 3 | -8 | 21.4 | 2 | -5 | 5.2 |
| Textiles and products thereof (XI) | 28.5 | 3 | -9 | 42.7 | 4 | -11 | -14.1 |
| Metals and products thereof (XV) | 76.4 | 8 | 4 | 90.6 | 9 | -3 | -14.2 |
| Mechanical appliances (84) | 61.7 | 6 | -22 | 109.6 | 11 | -9 | -47.9 |
| Electrical equipment (85) | 203.8 | 21 | 5 | 187.1 | 18 | -5 | 16.6 |
| Transport equipment (XVII) | 56.9 | 6 | -7 | 105.1 | 10 | -4 | -48.2 |
| Miscellaneous manufactured articles (XX) | 77.4 | 8 | -10 | 26.2 | 3 | 2 | 51.2 |
| Other | 65.2 | 8 | 1 | 71.9 | 6 | -2 | -6.8 |
The statistics are based on the questionnaires “Intrastat” and “Exports” (sale of fish and crustaceans in foreign waters and ports)”, the due dates of which were, respectively, 14 June 2015 and 15 June 2015, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 June 2015. Statistics Estonia published the monthly summary of foreign trade in 11 working days.