Exports grew on account of fuels

According to Statistics Estonia, in April 2010 exports of goods grew by 37% and imports 18% compared to April of the previous year. Exports increased in the dispatches of all commodity sections, especially fuels.

In April exports of goods from Estonia amounted to 10.6 billion kroons and imports to Estonia 11 billion kroons. Exports increased by 2.9 billion kroons and imports 1.7 billion kroons compared to April 2009. The trade deficit amounted to 0.4 billion kroons, which was over four times more than in April of the previous year.

In April, the biggest share in Estonia’s total exports was held by the commodities of machinery and equipment (nearly a fifth of Estonia’s total exports) and mineral products (15%). Compared to April of the previous year, the biggest increase was in exports of mineral products (incl. motor spirits, fuel oils and electrical energy) — 0.9 billion kroons. The turnover in exports of metals and products thereof increased by 60% or 0.4 billion kroons.

In April the biggest share in imports was also held by machinery and equipment (20% of Estonia’s total imports) and mineral products (16%). In April the turnover of imports increased among all main commodity sections compared to April of the previous year. The biggest increase was announced in the arrivals of metals and products thereof and machinery and equipment (by 0.4 billion kroons both).

The main countries of destination were Finland (18% of Estonia’s total exports), Sweden (14%), Russia and Latvia.  Electrical machinery and equipment accounted for the biggest share of exports to Finland and Sweden, vehicles and accessories thereof to Latvia and paints and lacquers to Russia. Compared to April of the previous year, exports to Sweden and Finland increased the most (by 0.5 billion kroons both).

The main countries from where goods were imported to Estonia were Finland (16% of Estonia’s total imports), Latvia (13%) and Germany. Electrical machinery accounted for the biggest share of imports from Finland, fuels from Latvia and iron and steel from Germany.  The biggest increase was announced in imports from Finland, Latvia, Germany and Sweden (0.4 billion kroons from each). At the same period imports from Lithuania decreased by 0.4 billion kroons.

According to Eurostat data, exports of the European Union (EU 27) countries increased by 18% compared to April of the previous year.

In April compared to March, exports of Estonia increased by 8%, but imports to Estonia decreased by 12%.

Estonia’s foreign trade, January–April, 2009–2010
Month Exports, mEEK Imports, mEEK Balance, mEEK
2009 2010 Change, % 2009 2010  % 2009 2010
January 7 269 8 094 11 8 830 8 503 -4 -1 562 -409
February 7 817 9 785 25 8 755 9 599 10 -939 186
March 8 348 9 833 18 9 788 12 497 28 -1 440 -2 664
April 7 736 10 630 37 9 330 10 987 18 -1 594 -357

 

Read more from Statistics Estonia

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