Analytics, Estonia, Export, Foreign trade , Statistics

In July 2018, exports from Estonia amounted to 1.2 bln euros and imports to Estonia to 1.3 bln euros at current prices. The trade deficit was 137 mln euros (in July 2017, it was 186 mln euros).

In July 2018, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports of goods), Sweden, Latvia (both 9%) and the USA (10%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; agricultural products and food preparations (raw milk, beer) and mineral products (electricity, fuel additives) 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 54 mln euros), Finland (up by 47 mln euros), Saudi Arabia (up by 45 mln euros) and Singapore (up by 35 mln euros). In exports to the USA, the exports of electrical equipment (data communication equipment) and mineral products increased the most. There was also an increase in the exports of mineral products to Finland, Saudi Arabia and Singapore. The biggest decrease occurred in exports to Sweden (down by 27 mln euros).

In July, the biggest share in the exports of goods was held by mineral products (22% of the total exports of goods), electrical equipment (15%), followed by wood and articles of wood (9%). The greatest increase was in the exports of mineral products (up by 184 mln euros) and wood and articles of wood (up by 13 mln euros) and base metals and articles of base metal (up by 12 mln euros).

The share of goods of Estonian origin in total exports was 71% in July 2018. The exports of goods of Estonian origin increased by 27% and re-exports by 25%. In the exports of goods of Estonian origin, the greatest increase was in the exports of mineral products (oil, shale oil, electricity), wood and articles of wood (birch pulpwood, coniferous sawn timber) and miscellaneous manufactured articles (prefabricated wood buildings).

The main countries of consignment in July 2018 were Finland (13% share of Estonia’s total imports of goods), Germany (11%) and Lithuania (10%). From Finland, mineral products and electrical equipment were imported the most. In imports from Lithuania, mineral products and agricultural products and food preparations had the highest share, while mechanical appliances and transport equipment were the main commodities imported from Germany. The biggest increase occurred in imports from Russia (up by 49 mln euros), Belarus (up by 42 mln euros) and Lithuania (up by 28 mln euros), with the imports of mineral products (fuel additives, motor spirit) increasing the most from each country.

The main commodities imported to Estonia were mineral products (15% of Estonia’s total imports of goods), electrical equipment (14%) and mechanical appliances (11%). The greatest increase was in the imports of mineral products (up by 104 mln euros), mechanical appliances (up by 29 mln euros), and base metals and articles of base metal (up by 16 mln euros).

In July 2018, the foreign trade export volume index increased by 23% and the import volume index by 12% compared to July 2017.