In April foreign trade decreased

According to Statistics Estonia, in April 2014, exports of goods decreased by 5% and imports by 4% at current prices compared to April of the previous year. The decrease in exports was mostly influenced by a fall in the trade of electrical equipment.

In April, exports from Estonia amounted to 1 billion euros and imports to Estonia to 1.2 billion euros at current prices. The trade deficit was 143 million euros and it increased by 11 million euros compared to April 2013.

The biggest share in Estonia’s exports was held by electrical equipment (a fifth of Estonia’s total exports), followed by mineral products (11%), agricultural products and food preparations (10%) and wood and products thereof (10%). A significant decrease occurred in the exports of electrical equipment (down by 30 million euros) and raw materials and products of chemical industry (down by 21 million euros. At the same time, there was an increase in the exports of mineral products and metals and products thereof (both up by 7 million euros).

In April, the main commodities imported were electrical equipment (17% of Estonia’s total imports), mineral products (12%) and agricultural products and food preparations (12%). The biggest decrease occurred in the imports of mineral products (down by 21 million euros) and mechanical appliances (down by 17 million euros). At the same time, the imports of agricultural products and food preparations increased (up by 7 million euros).

The top destination country of Estonia’s exports was Sweden (18% of Estonia’s total exports), followed by Finland (16%) and Latvia (11%). Electrical equipment and wood and products thereof were the main commodities exported to Sweden; electrical equipment and agricultural products and food preparations were the main commodities exported to Finland; and mineral products and agricultural products and food preparations were the main commodities exported to Latvia. The biggest decrease occurred in exports to Lithuania (down by 18 million euros) and to Russia (down by 10 million euros). Exports to Lithuania decreased due to reduced exports of mineral products (incl. electric energy) and railway wagons. At the same time, exports to Belgium and Latvia increased due to bigger exports of mineral products.

The main countries of consignment were Finland (16% of Estonia’s total imports), Germany (11%) and Sweden (10%). The main commodities imported were mineral products and electrical equipment (from Finland), mechanical appliances and electrical equipment (from Germany) and electrical and transport equipment (from Sweden). There was a decrease in imports from Sweden (down by 20 million euros), Latvia (down by 16 million euros) and Russia (down by 9 million euros). There were decreased imports of electrical equipment (incl. electronics equipment) and measuring and checking instruments from Sweden, and decreased imports of mineral products (incl. motor spirits and electric energy) from Latvia. Imports from Finland increased the most (up by 16%), due to bigger imports of mineral products (incl. motor spirits and electric energy).

There was a decrease in exports to the CIS countries, with exports to Russia, Kazakhstan and Ukraine falling the most. There were decreased exports of mineral products (incl. lubricating oils) and medical instruments and apparatus to Russia; decreased exports of mechanical appliances (incl. shovels, excavators) and transport equipment (incl. tractors) to Kazakhstan; and decreased exports of raw materials and products of chemical industry (incl. fertilisers) and mechanical appliances (incl. domestic appliances) to Ukraine. There was a decrease in imports of mineral products (incl. natural gas and gas oils) from Russia and Belarus, and imports of railway wagons from Ukraine.

In April compared to March 2014, exports stayed on the same level and imports decreased 1%.

Read more from Statistics Estonia

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