In July foreign trade decreased

According to Statistics Estonia, in July 2015, exports of goods decreased by 6% and imports by 4% compared to July of the previous year. The decrease in exports and imports was mostly influenced by a fall in the trade of electrical equipment and mineral products.

In July, exports from Estonia amounted to 0.9 billion euros and imports to Estonia to 1.1 billion euros at current prices. The trade deficit was 165 million euros and it increased by 6 million euros compared to July 2014.

The biggest share in Estonia’s exports in July was held by electrical equipment (20% of Estonia’s total exports), followed by mineral products (12%), mechanical appliances (9%), wood and products thereof (9%) and agricultural products and food preparations (9%). The biggest decrease occurred in the exports of electrical equipment (down by 50 million euros), mineral products (down by 17 million euros) and metals and products thereof (down by 13 million euros). Compared to the same month of 2014, the biggest increase occurred in the exports of miscellaneous manufactured articles and mechanical appliances (up by 16 and 14 million euros, respectively).

In July, the main commodities imported were electrical equipment (17% of Estonia’s total imports), mineral products (12%) and agricultural products and food preparations (11%). The drop in imports was influenced the most by a decrease in the imports of electrical equipment (down by 44 milion euros) and mineral products (down by 14 million euros). At the same time, the imports of transport equipment increased up by 5 million euros.

The top destination country of Estonia’s exports in July was Sweden (18% of Estonia’s total exports), followed by Finland (16%) and Latvia (11%). Electrical equipment and mechanical appliances were the main commodities exported to Sweden; electrical equipment and metals and products thereof were the main commodities exported to Finland; mineral products (incl. electricity) and agricultural products and food preparations were the main commodities exported to Latvia. The biggest decrease occurred in exports to the USA and Latvia. Exports to the USA and Latvia decreased mainly due to a decrease in the exports of mineral products and electrical equipment. At the same time, there was a significant increase in exports to Norway (up by 10 million euros). The increased imports to Norway were mainly due to the growing exports of miscellaneous manufactured articles (incl. furniture and prefabricated buildings).

The main countries of consignment in July were Finland (14% of Estonia’s total imports), Germany (11%) and Lithuania (10%). The main commodities imported were electrical equipment and mineral products (incl. motor spirits, electricity) from Finland; mechanical appliances and transport equipment from Germany; mineral products and agricultural products and food preparations from Lithuania. The biggest decrease occurred in imports from Germany (down by 17 million euros), from the United Kingdom (down by 13 million euros) and from China (down by 10 million euros). Imports from Germany decreased mainly due to a decrease in the imports of mineral products (incl. motor oils); imports from the United Kingdom decreased due to a decrease in the imports of mechanical appliances and imports from China decreased due to the decreased imports of electrical equipment. At the same time, the greatest increase occurred in the imports from Lithuania (up by 10 million euros). Imports from Lithuania increased mainly due to the increased imports of mineral products (incl. motorspirits).

Read more from Statistics Estonia
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