Analytics, Baltic Export, Estonia, Foreign trade

In 2009 the value of exports of goods from Estonia made up 101.3 billion kroons and imports to Estonia accounted for 114.1 billion kroons in current prices. Compared to 2008, the value of exports decreased by 31.1 billion kroons and imports by 56 billion kroons. The trade deficit was announced as 12.8 billion kroons, which was threefold smaller than in the previous year.

Estonia’s foreign trade, January–December, 2008–2009

The main countries of destination were Finland (18% of Estonia’s total exports), Sweden (13%) and Latvia (10%). Exports declined to all countries of destination, the most to Finland and Sweden – nearly by 5.6 billion kroons compared to 2008. The decline of exports to Finland and Sweden was mainly caused by the decrease of exports of electrical equipment and of wood and articles thereof.

The main countries of consignment were Finland (14% of Estonia’s total imports), Lithuania (11%), Germany and Latvia (10%, both countries).  Imports declined from all the main countries of consignment, the most from Germany (by 10.9 billion kroons), Finland and Sweden (by 7.5 billion kroons from both countries). From Germany and Sweden imports declined due to the decrease in imports of vehicles and parts thereof; from Finland due to the decrease in imports of machinery and equipment.

In 2009, in exports, among the commodity sections the first place was held by the section of machinery and equipment (a fifth of Estonia’s total exports), followed by mineral products (17%) and agricultural products and food preparations (10%). There was a significant decrease in exports of machinery and equipment (by 9 billion kroons) as well as metals and products thereof (7.1 billion kroons). Only exports of mineral products (incl. oil products) increased (by 1 billion kroons).

In 2009, in imports, the first place was held by machinery and equipment (a fifth of the total imports), followed by machinery and equipment (19%) and agricultural products and food preparations (13%). The turnover of imports declined among all the commodity sections, the most significantly in the imports of machinery and equipment (by 14.8 billion kroons) and of transport equipment (by 11.5 billion kroons).

The biggest trade deficit was mentioned in the trade of mineral products (6 billion kroons) and raw materials and products of chemical industry (5.2 billion kroons). The biggest surplus was mentioned in the trade of wood and products thereof (5.8 billion kroons).

In December 2009 the value of exports of goods was 8.6 billion kroons. Exports decreased 1% compared to December of 2008. The value of imports was 10.2 billion kroons, imports declined by 13% compared to December 2008. The decline in both exports and imports was mainly caused by the decrease in trade with machinery and equipment.

Main foreign trade partners of Estonia, 2009

Exports and imports by commodity sections, 2009