Estonia exported for 1 billion euros in September; imported 1.1 bEUR

According to Statistics Estonia, in September 2015, exports of goods decreased by 10% and imports by 9% compared to September of the previous year. Summing up the first three quarters of 2015, exports decreased 3% and imports 5% compared to the same period a year ago.

In September, exports from Estonia amounted to 1 billion euros and imports to Estonia to 1.1 billion euros at current prices. The trade deficit was 146 million euros.

The biggest share in Estonia’s exports in September was held by electrical equipment (19% of Estonia’s total exports), followed by agricultural products and food preparations (12%), miscellaneous manufactured articles (10%) and wood and products thereof (10%). The biggest decrease occurred in the exports of electrical equipment (down by 79 million euros), mineral products (down by 28 million euros), and raw materials and products of the chemical industry (down by 27 million euros). Compared to the same month of 2014, the biggest increase occurred in the exports of miscellaneous manufactured articles, and agricultural products and food preparations (up by 24 million and 18 million euros, respectively).

In September, the main commodities imported were electrical equipment (18% of Estonia’s total imports), agricultural products and food preparations (11%) and mechanical appliances (10%). The drop in imports was influenced the most by a decrease in the imports of mineral products (down by 64 million euros) and electrical equipment (down by 62 million euros). At the same time, the imports of both transport equipment and mechanical appliances increased by 15 million euros.

The top destination country of Estonia’s exports in September was Sweden (18% of Estonia’s total exports), followed by Finland (17%) and Latvia (11%). The biggest decrease occurred in exports to Russia and Sweden (down by 67 million and 40 million euros, respectively). Exports to Russia decreased mainly due to a decrease in the exports of raw materials and products of the chemical industry, and mechanical appliances. Exports to Sweden decreased mainly due to a decrease in the exports of electrical equipment. At the same time, there was a significant increase in exports to Algeria and Kuwait (up by 17 million and 7 million euros, respectively) – due to the increased dispatches of agricultural products and food preparations (incl. cereals).

The main countries of consignment in September were Finland (14% of Estonia’s total imports), Germany (12%) and Lithuania (10%). The biggest decrease occurred in imports from Finland, Sweden and Russia (down by 37 million, 26 million and 23 million euros, respectively). Imports from Finland and Russia fell due to the decreased imports of mineral products and imports from Sweden decreased mainly due to a drop in the imports of electrical equipment. At the same time, the greatest increase occurred in imports from Lithuania (up by 15 million euros).

During the nine months of 2015, exports decreased by 256 million euros and imports by 463 million euros at current prices compared to the same period of 2014, Estonia’s. Exports and imports decreased mainly due to a fall in trade in mineral products, agricultural products and food preparations, and electrical equipment.

By country, the biggest decrease in exports occurred in exports to Russia, Belgium and Latvia, while imports decreased the most due to a fall in trade with Finland, Germany and the United Kingdom.

Read more from Statistics Estonia
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