Mineral products are the main export and import article

According to Statistics Estonia, in February exports of goods from Estonia at current prices grew by 24% and imports to Estonia by 9% compared to February of the previous year. The growth in trade was caused mainly by the growth of exports and imports in mineral products.

In February exports of goods from Estonia totalled 9.7 billion kroons and imports to Estonia 9.5 billion kroons. Compared to February 2009, exports increased by 1.9 billion kroons and imports by 0.8 billion kroons. Imports grew last in September 2008. The trade surplus amounted to nearly 0.2 billion kroons (in February of the previous year the trade deficit amounted to 0.9 billion kroons).

In February, the biggest share in Estonia’s total exports was held by the mineral products (30% of Estonia’s total exports) and by machinery and equipment (16%). Compared to February of the previous year, exports of mineral products (incl. motor spirits and fuel oils) grew the most or by 2.4-fold. Exports of wood and products thereof grew by about a quarter and exports of products of miscellaneous manufactured articles (incl. furniture) by 19%.

In February the biggest share of imports was also held by mineral products (23% of Estonia’s total imports) and machinery and equipment (19%). Compared to February 2009, imports of mineral products grew 44% (or 0.7 billion kroons) and of machinery and equipment 9% (0.2 billion kroons).

In February in Estonia’s exports the main countries of destination were Finland (16% of Estonia’s total exports), Sweden (13%) and USA (9%). The increase in exports was registered to all main countries of destination except Germany. Exports to USA and France increased the most.

The main countries from where goods were imported to Estonia were Finland (15% of Estonia’s total imports), Russia (14%), Latvia and Germany (both 11%). Compared to February of the previous year, imports increased from most main partner countries. Imports from Russia, Latvia and Finland increased the most.

Exports of goods grew by a fifth and imports by 12% compared to January 2010.

According to Eurostat, in January 2010 exports of goods EU-27 countries grew by 8% on average, imports to the EU countries remained at the same level as in January 2009.

Estonia’s foreign trade, January–February, 2009–2010
Month Exports,
mEEK
Imports,
mEEK
Balance,
mEEK
09 10 Change,
%  
09 10 Change,
%
09 10
January 7 269 8 058 11 8 830 8 487 -4 -1 561 -429
February 7 817 9 676 24 8 755 9 538 9 -938 138

Read more from Statistics Estonia