Analytics, Estonia, Foreign trade , Transport

The value of exports of goods was 13.2 billion kroons, which was 1.5 billion kroons more than in October of the previous year. The growth of exports was mainly caused by the increase in the re-exports of fuels by nearly one billion kroons.

The value of goods imported to Estonia in October was 15.7 billion kroons, which was 0.4 billion kroons less than in October of the previous year. The decline in the imports was caused by the decrease of demand in internal market in several commodity sections. The biggest decrease was in the sections of transport equipment and in machinery and equipment.

Estonian foreign trade deficit was 2.5 billion kroons in October, which was 1.9 billion kroons less than in October of the previous year.

Estonian foreign trade, January–October, 2007–2008

In October the share of the EU countries was 63% and the share of the CIS countries accounted for 17% of the total exports (in September of the previous year 71% and 13%, respectively). Main countries of destination were Finland, Russia and Sweden. The biggest increase — by 0.7 billion kroons — was announced in the exports of goods to the United States of America and to Russia (by 0.6 billion kroons).

In total imports of goods, the share of the EU countries was 79% and that of the CIS countries 13% (in October of the previous year 83% and 9%, respectively). Main countries of consignment were Finland, Germany and Lithuania. Imports of goods from Lithuania increased significantly (by 0.5 billion kroons) and from Belarus (by 0.4 billion kroons), mainly on account of the imports of fuels. Imports decreased from Germany (by 0.6 billion kroons), Sweden (by 0.3 billion kroons), Finland (by 0.2 billion kroons).

In both exports and imports, the most important commodity section in October was machinery and equipment which accounted for about a fifth of both flows. Compared to October 2007, exports of mineral products increased by about a half; the increase was mentioned also in the sections of chemical products, machinery and equipment and metals and products thereof. Exports of wood and products thereof and exports of textiles and products thereof decreased. The biggest decrease was mentioned in the imports of transport equipment as well as in the imports of machinery and equipment. The imports of mineral products increased significantly.

Main foreign trade partners of Estonia, October 2008

Exports and imports of goods by commodity sections, October 2008