In June, trade decreased year-on-year
According to Statistics Estonia, in June 2019, compared to June 2018, the exports and imports of goods decreased by 8%. Trade in mineral products decreased the most. In the first half-year, compared to the same period of the previous year, the exports of goods increased by 5% and imports by 2%.
In June 2019, exports from Estonia amounted to 1.2 billion euros and imports to Estonia to 1.3 billion euros at current prices. The trade deficit was 124 million euros, which was 10 million euros less than in the same period last year.
In June 2019, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports), Sweden (12%) and Latvia (9%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; miscellaneous manufactured articles (prefabricated wood buildings) and transport equipment (ships) to Sweden; agricultural products and food preparations (milk, beer) and mineral products (fuel additives, electricity) to Latvia. The biggest decrease occurred in exports to Singapore (down by 43 million euros), followed by Latvia (down by 31 million euros) and Norway (down by 27 million euros). In exports to Singapore and Latvia, the biggest decrease occurred in the exports of mineral products; and to Norway, in the exports of miscellaneous manufactured articles (prefabricated wood buildings). The biggest increase occurred in exports to Denmark (up by 26 million euros).
In June, the biggest share in exports of goods was held by electrical equipment (16% of Estonia’s total exports), followed by mineral products (12%), and wood and articles of wood (10%). The biggest impact on export decrease came from mineral products (down by 59 million euros), and wood and articles of wood (down by 20 million euros). At the same time, exports of transport equipment increased.
The share of goods of Estonian origin in total exports was 72% in June. The exports of goods of Estonian origin decreased by 10% while re-exports stayed at the same level, year-on-year. In the exports of goods of Estonian origin, the biggest decrease was in the exports of mineral products (gas oils, shale oil) and wood and articles of wood (pulpwood, sawn timber).
In June, the main countries of consignment were Finland (13% of Estonia’s total imports), Sweden (11%), Lithuania and Germany (both 10%). The main commodities imported were: mineral products and electrical equipment from Finland; transport equipment and electrical equipment from Sweden; mineral products and agricultural products and food preparations from Lithuania; and transport equipment and mechanical appliances from Germany. Imports decreased the most from Belarus (down by 42 million euros), the United Kingdom (down by 17 million euros) and the Netherlands (down by 16 million euros). From Belarus and the United Kingdom, the imports of mineral products, and from the Netherlands, the imports of electrical equipment decreased the most. Imports increased the most from Sweden (up by 27 million euros) due to an increase in the imports of electrical equipment.
The main commodities imported to Estonia were transport equipment and mineral products (both 13% of Estonia’s total imports) and electrical equipment (12%). The biggest decrease was in the imports of mineral products (down by 80 million euros) and electrical equipment (down by 22 million euros). At the same time, the biggest increase was in the imports of transport equipment (up by 23 million euros).
In the 2nd quarter of 2019, exports of goods from Estonia amounted to 3.8 billion euros and imports to Estonia to 4.1 billion euros. The trade deficit in the 2nd quarter was 382 million euros (in the 2nd quarter of 2018, it was 447 million euros).
In the 2nd quarter of 2019, the growth in exports compared to the same period of the previous year was 1% and imports stayed at the same level. The growth in exports was slowed down the most by decreased exports of mineral products (down by 47 million euros). In the 2nd quarter, the biggest increase in exports occurred in transport equipment (up by 39 million euros), agricultural products and food preparations (up by 25 million euros). In the comparison of countries, exports have increased the most to the Netherlands (up by 67 million euros), the USA (up by 58 million euros) and Spain (up by 56 million euros). At the same time, exports have decreased the most to Latvia (down by 47 million euros) and Singapore (down by 42 million euros).
In the 2nd quarter of 2019 compared to the 2nd quarter of 2018, imports was significantly affected by a decrease in mineral products (down by 151 million euros), and such a large decline could not be compensated by increased imports of transport equipment (up by 44 million euros), agricultural products and food preparations (up by 32 million euros), and raw materials and products of chemical industry (up by 25 million euros). Imports grew the most from Sweden (up by 84 million euros) and Russia (up by 37 million euros) and decreased the most from Belarus (down by 111 million euros) and the Netherlands (down by 52 million euros).
| Month | Exports, million euros | Imports, million euros | Balance, million euros | |||||
|---|---|---|---|---|---|---|---|---|
| 2018 | 2019 | change, % | 2018 | 2019 | change, % | 2018 | 2019 | |
| First half-year | 6,996 | 7,319 | 5 | 7,943 | 8,074 | 2 | -947 | -756 |
| I quarter | 3,296 | 3,564 | 8 | 3,796 | 3,937 | 4 | -500 | -374 |
| January | 1,035 | 1,158 | 12 | 1,253 | 1,279 | 2 | -218 | -121 |
| February | 1,118 | 1,164 | 4 | 1,201 | 1,252 | 4 | -83 | -89 |
| March | 1,143 | 1,243 | 9 | 1,342 | 1,407 | 5 | -199 | -164 |
| II quarter | 3,700 | 3,755 | 1 | 4,147 | 4,137 | 0 | -447 | -382 |
| April | 1,195 | 1,242 | 4 | 1,340 | 1,397 | 4 | -145 | -155 |
| May | 1,238 | 1,343 | 8 | 1,405 | 1,446 | 3 | -167 | -103 |
| June | 1,268 | 1,170 | -8 | 1,402 | 1,293 | -8 | -134 | -124 |
| 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 | 1,170 | 100 | -8 | TOTAL | 1,293 | 100 | -8 |
| EU-28 | 873 | 75 | 0 | EU-28 | 1,053 | 81 | -3 |
| Euro area 19 | 584 | 50 | -5 | Euro area 19 | 744 | 57 | -4 |
| Non-EU | 296 | 25 | -26 | Non-EU | 241 | 19 | -25 |
| 1. Finland | 186 | 16 | -3 | 1. Finland | 172 | 13 | -3 |
| 2. Sweden | 138 | 12 | 8 | 2. Sweden | 141 | 11 | 24 |
| 3. Latvia | 110 | 9 | -22 | 3. Lithuania | 131 | 10 | -10 |
| 4. USA | 91 | 8 | 20 | 4. Germany | 129 | 10 | -9 |
| 5. Lithuania | 78 | 7 | 22 | 5. Latvia | 114 | 9 | 10 |
| 6. Germany | 70 | 6 | -14 | 6. Russia | 108 | 8 | -8 |
| 7. Denmark | 67 | 6 | 65 | 7. Poland | 83 | 6 | -2 |
| 8. Russia | 64 | 5 | -9 | 8. Netherlands | 54 | 4 | -22 |
| 9. Netherlands | 46 | 4 | 44 | 9. Belgium | 39 | 3 | 61 |
| 10. Norway | 37 | 3 | -42 | 10. China | 38 | 3 | -18 |
| 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 | 1,170 | 100 | -8 | 1,293 | 100 | -8 | -124 |
| Agricultural products and food preparations (I–IV) | 97 | 8 | 5 | 136 | 11 | 5 | -39 |
| Mineral products (V) | 145 | 12 | -29 | 168 | 13 | -32 | -23 |
| Raw materials and products of chemical industry (VI) | 59 | 5 | -8 | 103 | 8 | -9 | -43 |
| Articles of plastics and rubber (VII) | 34 | 3 | -12 | 71 | 5 | 0 | -37 |
| Wood and articles of wood (IX) | 117 | 10 | -15 | 47 | 4 | -3 | 70 |
| Paper and articles thereof (X) | 24 | 2 | -13 | 22 | 2 | -8 | 3 |
| Textiles and textile articles (XI) | 30 | 3 | -6 | 48 | 4 | -7 | -18 |
| Base metals and articles of base metal (XV) | 92 | 8 | -13 | 118 | 9 | -9 | -26 |
| Mechanical appliances (84) | 96 | 8 | -1 | 137 | 11 | -5 | -41 |
| Electrical equipment (85) | 190 | 16 | -7 | 161 | 12 | -12 | 29 |
| Transport equipment (XVII) | 108 | 9 | 31 | 174 | 13 | 15 | -67 |
| Optical, measuring, precision instruments (XVIII) | 38 | 3 | 9 | 32 | 2 | 3 | 7 |
| Miscellaneous manufactured articles (XX) | 98 | 8 | -12 | 31 | 2 | -5 | 66 |
| Other | 42 | 4 | 18 | 48 | 4 | 5 | -5 |
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 2019, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 22 July 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.