In October foreign trade decreased

According to Statistics Estonia, in October 2015, exports of goods decreased by 12% and imports by 13% compared to October of the previous year. The decrease in exports and imports was mostly influenced by a decrease in the trade of mineral products and electrical equipment.

The biggest share in Estonia’s exports in October was held by electrical equipment (20% of Estonia’s total exports), followed by agricultural products and food preparations (12%), wood and products thereof (10%). The biggest decrease occurred in the exports of mineral products (down by 68 million euros), electrical equipment (down by 57 million euros). The mineral products exports were influenced the most by a decrease in fuel oils and motor spirits. Exports in the electrical equipment chapter were influenced the most by a decrease in the exports of data communications equipment. Compared to October 2014, the biggest increase occurred in the exports of transport equipment and miscellaneous manufactured articles (both up by 12 million euros). The exports of transport equipment were influenced by an increase in the exports of ships and the exports of miscellaneous manufactured articles were influenced by an increase in the exports of prefabricated buildings of wood, and cushions and blankets.

In October, the main commodities imported to Estonia were electrical equipment (18% of Estonia’s total imports), agricultural products and food preparations (11%), mineral products (10%) and mechanical appliances (10%). The drop in imports was influenced the most by a decrease in the imports of electrical equipment and mineral products (down by 55 and 51 million euros, respectively). The imports of electrical equipment were influenced the most by a decrease in communication equipment components. The imports of mineral products were influenced the most by a decrease in fuel and gas oils.

The top destination country of Estonia’s exports in October was Sweden (18% of Estonia’s total exports), followed by Finland (17%) and Latvia (10%). The biggest decrease occurred in exports to Russia and Sweden (down by 35 and 29 million euros, respectively). Exports to Russia decreased mainly due to a decrease in the exports of mechanical appliances and products of chemical industry. 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 the exports to Saudi Arabia (up by 8 million euros), mainly due to the exports of cereals.

The main countries of consignment in October were Finland (15% of Estonia’s total imports), Germany (11%) and Latvia (9%). The biggest decrease occurred in imports from the Netherlands and Sweden (down by 24 and 21 million euros, respectively). Imports from the Netherlands decreased mainly due to a decrease in the imports of raw materials and products of chemical industry; imports from Sweden decreased due to the decreased imports of electrical equipment. At the same time, the greatest increase occurred in the imports from the USA (up by 12 million euros).

Read more from Statistics Estonia

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