In June, trade increased
According to Statistics Estonia, in June 2018, the exports of goods increased by 17% and imports by 18% compared to June 2017. The growth in trade was affected the most by increased trade in mineral products. In the first half-year, compared to the same period of the previous year, the exports of goods increased by 10% and imports by 8%.
In June 2018, exports from Estonia amounted to 1.3 billion euros and imports to Estonia to 1.4 billion euros at current prices. The trade deficit was 153 million euros (in June 2017, it was 114 million euros).
In June 2018, the top destination countries of Estonia’s exports were Finland (15% of Estonia’s total exports of goods), Latvia (11%) and Sweden (10%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; mineral products (fuel additives, electricity) and transport equipment (motor cars) were the main commodities exported to Latvia; electrical equipment and wood and articles of wood were the main commodities exported to Sweden. The biggest increase occurred in exports to the USA (up by 52 million euros), Singapore (up by 42 million euros) and Latvia (up by 41 million euros). In exports to the USA, the exports of electrical equipment (data communication equipment) increased the most. There was also an increase in the exports of mineral products to Singapore and Latvia. The biggest decrease occurred in exports to the Netherlands (down by 22 million euros).
In June, the biggest share in the exports of goods was held by electrical equipment and mineral products (both 16% share of the total exports of goods), followed by wood and articles of wood (11%). The greatest increase was in the exports of mineral products (up by 77 million euros) and wood and articles of wood and electrical equipment (both up by 25 million euros).
The share of goods of Estonian origin in total exports was 74% in June 2018. The exports of goods of Estonian origin increased by 20% and re-exports by 7%. Increased exports in the commodity sections of mineral products (oil, shale oil, fuel additives) and wood and articles of wood (glue-laminated boards, sawn timber, wooden doors) and miscellaneous manufactured articles (prefabricated wood buildings) contributed to the increase in the exports of goods of Estonian origin.
The main countries of consignment in June 2018 were Finland (13% share of Estonia’s total imports of goods), Lithuania and Germany (both 10%). The main commodities imported were: mineral products and electrical equipment from Finland, mineral products and raw materials and products of chemical industry from Lithuania, and transport equipment and mechanical appliances from Germany. The biggest increase occurred in imports from Russia (up by 57 million euros), Belarus (up by 47 million euros) and Lithuania (up by 33 million euros), where the imports of mineral products (motor spirit, fuel additives) increased the most.
The main commodities imported to Estonia were mineral products (18% of Estonia’s total imports of goods), electrical equipment (14%) and transport equipment (11%). The greatest increase was in the imports of mineral products (up by 153 million euros), electrical equipment (up by 20 million euros) and mechanical appliances (up by 17 million euros).
In the 2nd quarter of 2018, exports of goods from Estonia amounted to 3.7 billion euros and imports to Estonia to 4.2 billion euros. The trade deficit in the 2nd quarter was 536 million euros (in the 2nd quarter of 2017, it was 452 million euros).
In the 2nd quarter of 2018, the growth in exports compared to the same period of the previous year was supported by increased exports of mineral products (up by 181 million euros), wood and articles of wood (up by 57 million euros), transport equipment (up by 37 million euros), and miscellaneous manufactured articles (up by 36 million euros). In the comparison of countries, exports have increased the most to the USA (up by 108 million euros), Latvia (up by 101 million euros) and Finland (up by 69 million euros). At the same time, exports to Sweden have decreased the most (down by 58 million euros).
In the 2nd quarter of 2018 compared to the 2nd quarter of 2017, the growth in imports was significantly affected by an increase in the imports of mineral products (up by 296 million euros), electrical equipment (up by 68 million euros) and mechanical appliances (up by 59 million euros). By country, imports grew the most from Belarus (up by 125 million euros), Sweden (up by 111 million euros) and Russia (up by 92 million euros).
| Month | Exports, million euros | Imports, million euros | Balance, million euros | |||||
|---|---|---|---|---|---|---|---|---|
| 2017 | 2018 | change, % | 2017 | 2018 | change, % | 2017 | 2018 | |
| First half-year | 6,350 | 6,987 | 10 | 7,453 | 8,054 | 8 | -1,104 | -1,067 |
| I quarter | 3,090 | 3,288 | 6 | 3,742 | 3,820 | 2 | -652 | -531 |
| January | 940 | 1,029 | 10 | 1,350 | 1,250 | -7 | -410 | -221 |
| February | 972 | 1,117 | 15 | 1,072 | 1,205 | 12 | -100 | -88 |
| March | 1,179 | 1,142 | -3 | 1,321 | 1,365 | 3 | -142 | -222 |
| II quarter | 3,259 | 3,699 | 13 | 3,711 | 4,235 | 14 | -452 | -536 |
| April | 1,027 | 1,192 | 16 | 1,212 | 1,365 | 13 | -185 | -172 |
| May | 1,148 | 1,241 | 8 | 1,300 | 1,451 | 12 | -153 | -210 |
| June | 1,085 | 1,266 | 17 | 1,199 | 1,419 | 18 | -114 | -153 |
| Country of destination, group of countries | Exports, million euros | Share, % | Change on same month of previous year, % | Country of consignment, group of countries | Imports, million euros | Share, % | Change on same month of previous year, % |
|---|---|---|---|---|---|---|---|
| TOTAL | 1,266 | 100 | 17 | TOTAL | 1,419 | 100 | 18 |
| EU-28 | 866 | 68 | 11 | EU-28 | 1,100 | 78 | 10 |
| Euro area 19 | 615 | 49 | 14 | Euro area 19 | 774 | 55 | 7 |
| Non-EU | 400 | 32 | 33 | Non-EU | 319 | 22 | 60 |
| 1. Finland | 192 | 15 | 12 | 1. Finland | 180 | 13 | 17 |
| 2. Latvia | 143 | 11 | 40 | 2. Lithuania | 146 | 10 | 29 |
| 3. Sweden | 129 | 10 | -13 | 3. Germany | 141 | 10 | 12 |
| 4. Germany | 82 | 6 | 15 | 4. Sweden | 127 | 9 | 15 |
| 5. USA | 76 | 6 | - | 5. Russia | 117 | 8 | 95 |
| 6. Russia | 72 | 6 | -19 | 6. Latvia | 103 | 7 | 5 |
| 7. Norway | 64 | 5 | 56 | 7. Poland | 85 | 6 | 0 |
| 8. Lithuania | 64 | 5 | 3 | 8. Netherlands | 69 | 5 | -8 |
| 9. Singapore | 43 | 3 | - | 9. Belarus | 54 | 4 | - |
| 10. Denmark | 40 | 3 | 60 | 10. United Kingdom | 47 | 3 | 54 |
| Commodity section (chapter) by Combined Nomenclature (CN) | Exports | Imports | Balance, million euros | ||||
|---|---|---|---|---|---|---|---|
| million euros | share, % | change on same period of previous year, % | million euros | share, % | change on same period of previous year, % | ||
| TOTAL | 1,266 | 100 | 17 | 1,419 | 100 | 18 | -153 |
| Agricultural products and food preparations (I–IV) | 93 | 7 | 2 | 131 | 9 | -6 | -38 |
| Mineral products (V) | 202 | 16 | 62 | 248 | 18 | - | -46 |
| Raw materials and products of chemical industry (VI) | 65 | 5 | 19 | 116 | 8 | 13 | -51 |
| Articles of plastics and rubber (VII) | 39 | 3 | 8 | 72 | 5 | 6 | -34 |
| Wood and articles of wood (IX) | 138 | 11 | 22 | 49 | 3 | 22 | 89 |
| Paper and articles thereof (X) | 28 | 2 | -5 | 25 | 2 | 4 | 3 |
| Textiles and textile articles (XI) | 32 | 3 | -4 | 52 | 4 | 4 | -21 |
| Base metals and articles of base metal (XV) | 105 | 8 | 19 | 130 | 9 | 10 | -25 |
| Mechanical appliances (84) | 97 | 8 | 1 | 141 | 10 | 14 | -45 |
| Electrical equipment (85) | 205 | 16 | 14 | 195 | 14 | 12 | 10 |
| Transport equipment (XVII) | 82 | 6 | 10 | 151 | 11 | 5 | -68 |
| Optical, measuring, precision instruments (XVIII) | 34 | 3 | -10 | 31 | 2 | -1 | 3 |
| Miscellaneous manufactured articles (XX) | 112 | 9 | 21 | 33 | 2 | 0 | 79 |
| Other | 35 | 3 | 2 | 46 | 3 | -17 | -11 |
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 and 15 July 2018, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 July 2018. Statistics Estonia published the monthly summary of foreign trade in 13 working days. In the case of the statistical activity “Foreign trade”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.