In May exports of metal products grew significantly

According to Statistics Estonia, in May exports of goods from Estonia amounted to 11.3 billion kroons (721 million euros) and imports to Estonia to 12.5 billion kroons (800 million euros) at current prices. Compared to May 2009, exports increased in the dispatches of all commodity sections, especially in the dispatches of metals and products thereof.

In May exports grew by 38% or 3.1 billion kroons (199 million euros) and imports by 47% or 4 billion kroons (256 million euros) compared to May 2009. The trade deficit amounted to 1.2 billion kroons (79 million euros), which was nearly four times more than in May of the previous year.

In May, the biggest share in Estonia’s exports was held by the commodities of machinery and equipment (19% of Estonia’s total exports) and mineral products (18%). Compared to May of the previous year, the biggest increase, i.e. 0.7 billion kroons (43 million euros), was reported in the exports of metals and products thereof. Metals and products thereof were mainly exported to Finland and Turkey. Dispatches of mineral products (incl. motor spirits, fuel oils and electrical energy) increased by 42%.

In May the biggest share in Estonia’s imports was held by mineral products (23% of Estonia’s total imports) and machinery and equipment (20%). The turnover of imports increased among all main commodity sections compared to May of the previous year. The biggest increase was announced in the arrivals of mineral products and machinery and equipment.

The main countries of destination for Estonia were Finland (17% of Estonia’s total exports), Sweden (13%) and Latvia (9%). Electrical machinery, furniture and wood and articles of wood accounted for the biggest share of exports to Finland; electrical machinery, wood and articles of wood — to Sweden; and fuels and vehicles and parts thereof — to Latvia. Compared to May of the previous year, exports to the USA and Sweden increased the most.

The main countries from where goods were imported to Estonia were Finland (15% of Estonia’s total imports), Germany and Lithuania (11% from both). Fuels accounted for the biggest share of imports from Finland and Lithuania, mechanical machinery and vehicles and accessories thereof — from Germany. The biggest increase was announced in the imports from Finland, Lithuania and Germany.

According to the data of Eurostat, the turnover of exports of the European Union (EU) countries increased by 22% compared to May of the previous year.

In May compared to April, exports from Estonia increased by 7%, and imports to Estonia by 14%.

Estonia’s foreign trade, January–May, 2009–2010
Month Exports, mEEK Imports, mEEK Balance, mEEK
2009 2010 * %   2009 2010 * % 2009 2010
January 7 269 8 092 11 8 830 8 462 -4 -1 561 -370
February 7 817 9 776 25 8 755 9 563 9 -938 213
March 8 348 9 764 17 9 788 12 539 28 -1 440 -2 775
April 7 736 10 568 37 9 330 10 963 18 -1 594 -395
May 8 163 11 284 38 8 511 12 523 47 -348 -1 239

 

Main foreign trade partners of Estonia, May 2010
Country of
destination,
group
of countries
Exports,
mEEK
Share,
%
*, % ** Imports,
mEEK
Share,
%
*, %
TOTAL 11 284 100 38 TOTAL 12 523 100 47
EU 7 328 65 28 EU 9 869 79 45
Euro area 3 312 29 16 Euro area 4 822 39 43
CIS 1 165 10 35 CIS 1 636 13 61
1. Finland 1 930 17 26 1. Finland 1 913 15 54
2. Sweden 1 414 13 43 2. Germany 1 370 11 62
3. Latvia 980 9 27 3. Lithuania 1 329 11 74
4. Russia 932 8 48 4. Russia 1 245 10 38
5. USA 887 8 200 5. Latvia 1 223 10 44
6. Lithuania 624 6 36 6. Sweden 1 128 9 35
7. Germany 623 6 22 7. Poland 752 6 62
8. Norway 332 3 17 8. Netherlands 607 5 80
9. Denmark 298 3 11 9. China 311 2 96
10. Nigeria 283 3 -49 10. Italy 259 2 62

*- Change compared to
same month
of previous year

**- Country of consignment,
group of countries

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