In March, trade increased with EU countries
In March, exports from Estonia amounted to 1.2 billion euros and imports to Estonia to 1.4 billion euros at current prices. The trade deficit was 177 million euros, which was 22 million euros less than in the same period last year.
In March, exports to EU Member States increased by 104 million euros and imports by 71 million euros. The share of the European Union was 72% in total exports and 80% in imports. The share of EU countries was previously this large in November 2017, and the share of imports, in May 2018.
In March, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports), Sweden (10%) and Latvia (9%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; miscellaneous manufactured articles, and wood and articles of wood to Sweden; transport equipment, and agricultural products and food preparations to Latvia. The biggest increases occurred in exports to the USA (up by 50 million euros), Denmark (up by 25 million euros) and Belgium (up by 20 million euros). In exports to the USA, the increase was largest in the exports of data communication equipment, to Denmark and Belgium, in the exports of mineral products. The biggest decrease occurred in exports to Singapore (down by 19 million euros), where less mineral products were dispatched.
The biggest share in exports of goods was held by electrical equipment (15% of Estonia’s total exports), followed by mineral products, and wood and articles of wood (both 12%). The biggest increase was in the exports of base metals and articles of base metal (up by 22 million euros), and agricultural products and food preparations (up by 13 million euros). The biggest decrease occurred in exports of electrical equipment (down by 7 million euros).
The share of goods of Estonian origin in total exports was 72% in March. The exports of goods of Estonian origin grew by 8% and re-exports by 7% compared to March last year. In the exports of goods of Estonian origin, the biggest growth was in the exports of mineral products (shale spirit, aviation spirit, shale oil), miscellaneous manufactured articles (prefabricated wood buildings, furniture), base metals and articles of base metal (metal waste, metal structures).
In March, the main countries of consignment were Finland (13% of Estonia’s total imports), Germany and Sweden (both 11%) and Latvia (10%). Mineral products and base metals and articles of base metal were the main commodities imported from Finland, while from Germany, mechanical appliances and transport equipment, and from Sweden, transport equipment and electrical equipment were imported the most. Imports increased the most from Finland (up by 29 million euros), Latvia (up by 20 million euros) and Sweden (up by 18 million euros). From Finland and Latvia, imports of mineral products, and from Sweden, imports of transport equipment increased the most. Imports decreased the most from Belarus (down by 28 million euros), mainly due to decreased imports of mineral products.
The main commodities imported to Estonia were electrical equipment (13% of Estonia’s total imports), mineral products and transport equipment (both 12%), and mechanical appliances (11%). The biggest increase was in the imports of base metals and articles of base metal (up by 20 million euros) and the biggest decrease in the imports of mineral products (down by 18 million euros).
In March 2019, compared to March 2018, the foreign trade export volume index decreased by 1% and the import volume index increased by 3%.
In the 1st quarter of 2019, exports from Estonia amounted to 3.6 billion euros and imports to Estonia to 3.9 billion euros. Compared to the 1st quarter of 2018, exports increased by 8% and imports by 4%. The trade deficit in the 1st quarter was 392 million euros (in the 1st quarter of 2017, it was 500 million euros).
In the 1st quarter of 2019, year-on-year, the growth in exports was supported by increased exports of wood and articles of wood (up by 44 million euros), base metals and articles of base metal (up by 30 million euros) and mechanical appliances (up by 28 million euros). In the comparison by countries, exports have increased the most to the USA, Denmark, Latvia and Finland.
In the 1st quarter, the growth in imports was affected the most by an increase in the imports of raw materials and products of chemical industry (up by 41 million euros), base metals and articles of base metal (up by 28 million euros), and agricultural products and food preparations (up by 18 million euros). By countries, imports in the first quarter of 2019 compared to the 1st quarter of 2018 grew the most from Lithuania, Sweden and Russia. Imports from Belarus decreased the most.
| Month | Exports, million euros | Imports, million euros | Balance, million euros | |||||
|---|---|---|---|---|---|---|---|---|
| 2018 | 2019 | change, % | 2018 | 2019 | change, % | 2018 | 2019 | |
| 1st quarter | 3,296 | 3,555 | 8 | 3,796 | 3,947 | 4 | -500 | -392 |
| January | 1,035 | 1,160 | 12 | 1,253 | 1,283 | 2 | -218 | -122 |
| February | 1,118 | 1,165 | 4 | 1,201 | 1,257 | 5 | -83 | -92 |
| March | 1,143 | 1,230 | 8 | 1,342 | 1,407 | 5 | -199 | -177 |
| 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 | 1,230 | 100 | 8 | TOTAL | 1,407 | 100 | 5 |
| EU-28 | 882 | 72 | 13 | EU-28 | 1,131 | 80 | 7 |
| Euro area 19 | 613 | 50 | 16 | Euro area 19 | 798 | 57 | 7 |
| Non-EU | 347 | 28 | -5 | Non-EU | 276 | 20 | -2 |
| 1. Finland | 196 | 16 | 6 | 1. Finland | 185 | 13 | 19 |
| 2. Sweden | 127 | 10 | -8 | 2. Germany | 152 | 11 | -5 |
| 3. Latvia | 114 | 9 | 18 | 3. Sweden | 148 | 11 | 14 |
| 4. Germany | 88 | 7 | 6 | 4. Latvia | 137 | 10 | 17 |
| 5. USA | 85 | 7 | - | 5. Lithuania | 124 | 9 | -6 |
| 6. Russia | 76 | 6 | 3 | 6. Russia | 115 | 8 | 11 |
| 7. Lithuania | 67 | 5 | 7 | 7. Poland | 86 | 6 | -3 |
| 8. Denmark | 60 | 5 | 71 | 8. Netherlands | 63 | 4 | 18 |
| 9. Norway | 52 | 4 | 7 | 9. China | 51 | 4 | 26 |
| 10. France | 38 | 3 | 69 | 10. Italy | 35 | 2 | 9 |
| 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 | 1,230 | 100 | 8 | 1,407 | 100 | 5 | -177 |
| Agricultural products and food preparations (I–IV) | 96 | 8 | 15 | 139 | 10 | 10 | -43 |
| Mineral products (V) | 147 | 12 | 8 | 162 | 12 | -10 | -15 |
| Raw materials and products of chemical industry (VI) | 67 | 5 | 9 | 133 | 9 | 11 | -67 |
| Articles of plastics and rubber (VII) | 37 | 3 | 5 | 72 | 5 | 11 | -36 |
| Wood and articles of wood (IX) | 141 | 12 | 4 | 48 | 3 | 2 | 92 |
| Paper and articles thereof (X) | 29 | 2 | -5 | 26 | 2 | 17 | 4 |
| Textiles and textile articles (XI) | 37 | 3 | 3 | 62 | 4 | 9 | -26 |
| Base metals and articles of base metal (XV) | 99 | 8 | 28 | 140 | 10 | 16 | -41 |
| Mechanical appliances (84) | 113 | 9 | -1 | 152 | 11 | -5 | -39 |
| Electrical equipment (85) | 180 | 15 | -4 | 179 | 13 | -1 | 1 |
| Transport equipment (XVII) | 84 | 7 | 11 | 162 | 12 | 10 | -77 |
| Optical, measuring, precision instruments (XVIII) | 46 | 4 | 35 | 33 | 2 | -1 | 13 |
| Miscellaneous manufactured articles (XX) | 111 | 9 | 12 | 38 | 3 | 22 | 73 |
| Other | 43 | 3 | 18 | 60 | 4 | 17 | -17 |
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 April 2019, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 22 April 2019. 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.