Biggest decrease in foreign trade in 11 years

According to Statistics Estonia, in April 2020, compared to April 2019, the exports of goods decreased by 17% and imports by 22%. The greater decrease in imports offset the balance of trade.

Estonia’s exports of goods amounted to 1.02 billion euros and imports to 1.09 billion euros at current prices. The trade deficit was 61 million euros; it decreased by 89 million euros compared to April 2019.

According to Evelin Puura, leading analyst at Statistics Estonia, the last time trade fell this much was 11 years ago, in 2009. “In April, trade decreased in most commodity sections, but exports and imports increased for products associated with COVID-19, such as disinfection products and pharmaceuticals,” explained Puura.

In April, the top destination country of Estonia’s exports was Finland, followed by Sweden and Latvia. The biggest decreases occurred in exports to the Netherlands (down by 35 million euros), Russia and Sweden (down by 32 million euros each). Compared to the previous year, shale oil was exported less to the Netherlands, mechanical appliances to Russia and electrical equipment to Sweden. Exports increased the most to Argentina, with more motor fuel dispatched.

The biggest exports from Estonia were electrical equipment, wood and articles of wood, and agricultural products and food preparations. The year-on-year decline in exports came mainly from mineral products (down by 63 million euros), transport equipment (down by 47 million euros) and electrical equipment (down by 31 million euros). Exports increased the most for raw materials and products of chemical industry (up by 12 million euros), with highest increases for disinfection products and nitrogenous fertilisers.

Read more from Statistics Estonia

Retail prices up by 11 pct!

According to Statistics Estonia, in the 1st quarter of 2020, the Dwelling Price Index increased by 11.5% compared to the 1st quarter of 2019. The last time that the change in the index was more significant was in the 3rd quarter of 2014, when it was 13.2%.

According to Egne Säinast, analyst at Statistics Estonia, the prices of apartments increased by 11.3% and the prices of houses by 11.7% compared to the 1st quarter of 2019. “The prices of apartments in Tallinn increased the most – by 12.1%. Prices increased by 8.9% in areas bordering Tallinn with Tartu and Pärnu cities and by 12% in the rest of Estonia,” added Säinast.

The Dwelling Price Index expresses the changes in the square metre prices of transactions made by households for the purchase of dwellings and it is compiled for apartments and houses (detached, semi-detached and terraced houses).

Source: Statistics Estonia

Industrial production fell for the second month

According to Statistics Estonia, in May 2020, the production of industrial enterprises decreased by 18% compared to May 2019. Production decreased in all three industrial activities: manufacturing, energy production and mining.

In May, the total production in manufacturing decreased by 17% year on year. There was a fall in almost all manufacturing activities, with the greatest production decreases in the manufacture of motor vehicles, trailers and semi-trailers (-45%), repair of machinery and equipment (-39%) and manufacture of furniture (-34%). Production increased in the manufacture of paper and chemical products and in quarrying of stone.

According to Helle Bunder, analyst at Statistics Estonia, in May, industrial production continued to decrease at about the same rate as in April. “It is positive, however, that there wasn’t such a significant fall in the manufacture of food products and wood, which are the two manufacturing activities with the largest shares,” said Bunder.

66% of the total production of manufacturing was sold to the external market. The shares of sales for export were largest in the case of manufacture of electronic products and pharmaceutical products. According to unadjusted data, the sales of manufacturing production for export decreased by 25% and sales to the domestic market by 17% year on year.

Read more from Statistics Estonia here

12 pct of parental benefit recipients were men

According to Statistics Estonia, 27,989 women and 3,920 men received parental benefit in Estonia in 2019. The average monthly parental benefit paid to men was a third higher than that paid to women.

In 2019, men accounted for 12% of parental benefit recipients, and their average benefit was 1,728 euros. According to Kaire Raasik, leading analyst at Statistics Estonia, women earned on average 1,133 euros in parental benefit, which is 34% less compared to men. “However, the data show that the gap between men’s and women’s parental benefit is decreasing slowly, as it has been even larger in the past,” said Raasik.

Read more from Statistics Estonia here

Customers returned to shopping centres

According to Statistics Estonia, in May 2020, the turnover of retail trade enterprises was 625 million euros. Compared to May 2019, turnover decreased by 1% at constant prices.

According to Jaanika Tiigiste, leading analyst at Statistics Estonia, the fall in turnover, which in April was 15% year on year, slowed down considerably in May. “The main reason was that since 11 May, people were again allowed to visit shopping centres,” explained Tiigiste.

The turnover of stores selling manufactured goods decreased by 3% compared to May 2019. Turnover decreased the most, by 50%, in pharmacies and stores selling cosmetics.

In stores selling textiles, clothing and footwear, the decrease was 22%. In other non-specialised stores selling predominantly manufactured goods (department stores), turnover declined by 16%, and in stores selling second-hand goods and in non-store retail sale (stalls, markets, direct sale), by 15%.

Turnover increased compared to May 2019 in stores selling household goods and appliances, hardware and building materials, in other specialised stores, such as stores selling predominantly computers and their accessories, books, sports equipment, games, toys, flowers, plants, etc., and in stores selling via mail order or the internet.

Read more from Statistics Estonia here