Foreign trade declined sharply

According to Statistics Estonia, in January exports of goods in current prices totalled 7.2 billion kroons and imports 8.8 billion kroons. Compared to January of the previous year, exports declined by 29% and imports 36%. The decrease in value of exports and imports began already in November 2008.

In January exports of goods was 2.9 billion kroons smaller than in January of the previous year. The decline in exports was mainly caused by the decrease in exports to the European Union countries. The decline in exports was also partly caused by the high comparative indicators last year. Exports was last on such a low level in the 1st quarter of 2005.

In January imports of goods was 5 billion kroons smaller than in January 2008. The decline in the imports was mainly caused by the decrease of imports from the EU countries. The decrease was also partly caused by the high comparative indicators last year.

Estonian foreign trade deficit was 1.6 billion kroons in January, which was 2.1 billion kroons less than in January of the previous year. The foreign trade deficit was so small last in January 2005.

In January the share of the European Union (EU 27) countries was 74% and the share of the CIS countries accounted for 10% of the total exports (in January of the previous year 75% and 10%, respectively). The main countries of destination for goods were Finland, Sweden and Latvia. Exports to EU countries decreased by 2.3 billion kroons and to CIS countries by 0.3 billion kroons compared to January of the previous year. Exports to Latvia, Finland and Sweden decreased the most.

In total imports of goods, the share of the EU 27 countries was 73% and that of the CIS countries 16% (in January of the previous year 80% and 12%, respectively). The main countries of consignment were Finland, Russia and Germany. Imports from the EU countries decreased by 4.7 billion kroons compared to January of the previous year. Imports from Sweden, Finland and Germany declined the most.

The trade deficit between the EU countries decreased from 3.5 billion kroons to 1.1 billion kroons compared to January of the previous year.

In both exports and imports, the most important commodity section in January was machinery and equipment, which accounted for nearly a quarter of both flows. In January there was a decrease of both exports and imports among all of the commodity chapters. Exports of transport equipment, metals and products thereof and wood and products thereof decreased significantly. The decrease in imports was mainly caused by the decrease in arrivals of transport equipment, machinery and equipment and mineral products (incl. fuels).

Estonia’s foreign trade, 2008–2009 (million kroons)

Year Month Exports Imports Balance
2008 January 10 155 13 827 -3 672
  February 10 679 13 693 -3 014
  March 10 652 14 186 -3 534
  April 12 338 15 927 -3 589
  May 11 555 14 502 -2 947
  June 10 863 14 126 -3 263
  July 10 972 15 088 -4 116
  August 11 144 13 488 -2 344
  September 12 309 15 285 -2 976
  October 13 247 15 726 -2 479
  November 9 898 12 950 -3 052
  December 8 644 11 714 -3 070
2009 January 7 234 8 810 -1 576

Main foreign trade partners of Estonia, January 2009

Country of destination,
group of
countries
Exports, mEEK kroons Share,
%
Change
comp to
same month
prev year,
%
group of
countries
Imports,
million
kroons
Share,
%
Change
comp
same month
prev year,
%
TOTAL 7 234 100 -29 TOTAL 8 810 100 -36
EU 27 5 330 74 -30 EU 27 6 440 73 -42
CIS 717 10 -27 CIS 1 407 16 -13
1. Finland 1 457 20 -24 1. Finland 1 251 14 -40
2. Sweden 1 102 15 -30 2. Russia 947 11 -25
3. Latvia 674 9 -46 3. Germany 900 10 -47
4. Russia 550 8 -25 4. Latvia 804 9 -35
5. Germany 487 7 -6 5. Sweden 767 9 -52
6. Lithuania 353 5 -46 6. Lithuania 704 8 -31
7. Denmark 318 4 -5 7. United Kingdom 330 4 -56
8. Norway 240 3 -30 8. Belarus 325 4 97
9. Canada 166 2 14 9. Poland 312 4 -47
10. Netherlands 152 2 -48 10. China 305 4 -2

Exports and imports of goods by commodity sections, January 2009

Commodity section
by Combined
Nomenclature (CN)
Exports Imports Balance,
mEEK
mEEK share,
%
change com
same month 
prev.y,
%
mEEK share,
%
compared

 to same

 month
prev y,
%

TOTAL 7 234 100 -29 8 810 100 -36 -1 576
Agricultural products and food preparations (I–IV) 719 10 -16 1 075 12 -19 -356
Mineral products (V) 819 11 -24 1 618 18 -27 -799
Raw materials and products of chemical industry (VI) 377 5 -3 767 9 -24 -390
Articles of plastics and rubber (VII) 212 3 -36 411 5 -34 -199
Wood and products thereof (IX) 637 9 -40 162 2 -55 475
Paper and articles thereof (X) 228 3 -34 238 3 -22 -10
Textiles and products thereof (XI) 385 5 -26 517 6 -29 -132
Metals and products thereof (XV) 710 10 -40 680 8 -46 30
Machinery and equipment (XVI) 1756 24 -15 1 970 22 -32 -214
Transport equipment (XVII) 361 5 -60 671 8 -67 -310
Miscellaneous manufactured articles (XX) 644 9 -24 211 2 -39 432
Other 386 6 -32 490 5 -34 -104
Source: Statistics Estonia

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