Estonia exported goods worth 12.1 bEUR in 2014

According to Statistics Estonia, in 2014, exports from Estonia amounted to 12.1 billion euros and imports to Estonia to 13.7 billion euros at current prices. The trade deficit was 1.6 billion euros and it increased by 126 million euros compared to 2013.

In 2014, exports of goods decreased by 2% and imports by 1% at current prices, compared to 2013. The year-over-year comparison of trade was influenced the most by the single transaction made with ships in January 2013; it is excluded from trade, then the level of trade in 2014 remained on the level of 2013.

In 2014, the share of European Union countries was 72% in the exports of goods  and 83% in imports; compared to 2013, the indicator remained on the same level for exports, but decreased 1% in the case of imports. The biggest trade surplus was recorded in trade with Sweden and Norway and the biggest trade deficit occurred in trade with Germany and Poland.

In 2014, the main countries of destination were Sweden (18% of Estonia’s total exports), Finland (15%) and Latvia (11%). Electrical equipment and wood and products thereof were mainly exported to Sweden, electrical equipment and metals and products thereof to Finland, and agricultural products and food preparations and mineral products to Latvia. The largest decrease was recorded in exports to Russia (down by 216 million euros), Finland (down by 138 million euros) and Lithuania (down by 81 million euros). Exports to Russia decreased on account of mechanical appliances and agricultural products and food preparations. Less transport equipment was exported to Finland and fewer mineral products to Lithuania. The most significant increase occurred in exports to Sweden and the USA.

The main countries of consignment in 2014 were Finland (15% of Estonia’s total imports), Germany (12%) and Sweden (11%). Mineral products and electrical equipment were mostly imported from Finland, mechanical appliances and transport from Germany and electrical and transport equipment from Sweden. The most significant decrease occurred in imports from the United Kingdom (down by 136 million euros), Latvia (down by 129 million euros) and Lithuania (down by 91 million euros). Imports from Germany and Sweden increased the most.

In 2014, the most important commodity group in exports was electrical equipment (22% of Estonia’s total exports), followed by mineral products (11%), and agricultural products and food preparations (10%). The decrease in Estonia’s exports in 2014 compared to 2013 was mostly influenced by a decrease in the exports of transport equipment (down by 161 million euros), raw materials and products of the chemical industry (down by 99 million euros) and mechanical appliances (down by 76 million euros). The exports of electrical equipment and wood and products thereof increased the most.

In 2014 the biggest share of Estonia’s imports was held by electrical equipment (19% of Estonia’s total imports), followed by mineral products (13%), and agricultural products and food preparations (11%). The decrease in imports was influenced the most by transport equipment (down by 264 million euros), mechanical appliances (down by 140 million euros) and agricultural products and food preparations (down by 30 million euros). At the same time, the imports of electrical equipment and mineral products increased.

In 2014 compared to 2013, export prices fell by 2.6% and import prices by 2.2%.

In December 2014, the value of exports of goods was 0.9 billion euros and the value of imports was 1.1 billion euros. In December 2014 compared to December 2013, exports increased by 3% and imports by 9%.

Read more from Statistics Estonia
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