In September, exports grew faster than imports

According to Statistics Estonia, in September 2016, the exports of goods increased by 13% and imports by 2% compared to September of the previous year. In the third quarter as a whole exports grew 7%.

In September, exports from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.2 billion euros at current prices. The trade deficit was 62 million euros (in September 2015, it was 161 million euros).

The top destination country of Estonia’s exports in September was Sweden (15% of Estonia’s total exports), followed by Finland (15%) and Latvia (10%). The biggest increase occurred in exports to the Netherlands, Mexico and Germany (up by 33 million, 26 million and 16 million euros, respectively). Compared to September 2015, more mineral products were exported to the Netherlands and more electrical equipment to Mexico and Germany. Exports to the main destination country Sweden decreased by 13 million euros.

The biggest share in Estonia’s exports in September was held by electrical equipment, followed by mineral products, agricultural products and food preparations and miscellaneous manufactured articles. The increase in exports was greatly influenced by the exports of mineral products (incl. motor spirits, shale oil), electrical equipment (incl. communication equipment) and mechanical appliances (incl. industrial equipment). There was a decrease in the exports of agricultural products and food preparations.

The share of goods of Estonian origin in total exports was 71% in September. Compared to September 2015, the exports of goods of Estonian origin increased by a tenth and re-exports, i.e. the exportation of goods imported from a foreign country, by a fifth. The exports of goods of Estonian origin were influenced the most by a rise in the exports of mineral products, electrical equipment and mechanical appliances. Among goods of Estonian origin, the biggest decrease occurred in the exports of agricultural products and food preparations.

The main countries of consignment in September were Finland (13% of Estonia’s total imports), Germany (12%), Lithuania (10%) and Latvia (10%). The biggest rise occurred in imports from the Netherlands, Russia and the Czech Republic. Compared to September 2015, there was a growth in the imports of electrical equipment from the Netherlands, of mineral products from Russia and of electrical equipment from the Czech Republic. The greatest decrease occurred in imports from Finland.

In September, the main commodities imported to Estonia were electrical equipment, agricultural products and food preparations, and transport equipment. The growth in imports was influenced the most by the imports of transport equipment and raw materials and products of the chemical industry. The biggest fall occurred in the imports of mechanical appliances.

In the 3rd quarter of 2016, exports increased 7% and imports 1%, the previous time that exports grew this much quarter-over-quarter was in the 3rd quarter of 2012. Export growth compared to the same period of 2015 was influenced the most by the increased exports of electrical equipment and mineral products. In the 3rd quarter, among destination countries, the biggest increase occurred in exports to Mexico, Romania and the Netherlands.

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In August, the trade deficit was at the lowest level of 2016

According to Statistics Estonia, in August 2016, the exports of goods increased by 12% and imports by 8% compared to August of the previous year. Export growth was faster than import growth and reduced the trade deficit, which was at the lowest level of this year.

In August, exports from Estonia amounted to 1 billion euros and imports to Estonia to 1.1 billion euros at current prices. The trade deficit was 80 million euros (in August 2015, it was 108 million euros).

The top destination country of Estonia’s exports in August was Sweden (17% of Estonia’s total exports), followed by Finland (16%) and Latvia (10%). The biggest increase occurred in exports to Mexico, Finland and Germany (up by 33 million, 19 million and 14 million euros, respectively). Compared to August 2015, more electrical equipment was exported to Mexico, more mechanical appliances, optical appliances, wood and articles of wood to Finland, and more electrical equipment and miscellaneous manufactured articles to Germany. The biggest decrease occurred in exports to the Netherlands.

The biggest share in Estonia’s exports in August was held by electrical equipment, followed by miscellaneous manufactured articles, wood and articles of wood, and mineral products. The increase in exports was greatly influenced by the exports of electrical equipment (incl. communication equipment), miscellaneous manufactured articles (incl. prefabricated buildings of wood) and transport equipment (incl. motor cars). There was a decrease in the exports of mechanical appliances.

The share of goods of Estonian origin in total exports was 71% in August. Export growth was influenced the most by the exports of goods of Estonian origin, which increased 14% while the re-export of foreign goods grew 7%. The growth in the exports of goods of Estonian origin compared to August 2015 was influenced the most by a rise in the exports of electrical equipment, miscellaneous manufactured articles, mineral products, base metals and articles of base metal. Among goods of Estonian origin, the biggest decrease occurred in the exports of agricultural products and food preparations. By country, the exports of goods of Estonian origin increased the most in terms of exports to Mexico, Finland and Germany.

The main countries of consignment in August were Finland (13% of Estonia’s total imports), Germany (11%) and Lithuania (10%). The biggest rise occurred in imports from Russia, Germany and China. Compared to August 2015, there was a growth in the imports of mineral products from Russia, of transport equipment from Germany and of electrical equipment from China. The greatest decrease occurred in imports from Poland.

In August, the main commodities imported to Estonia were electrical equipment, agricultural products and food preparations, mechanical appliances, transport equipment and mineral products. The growth in imports was influenced the most by increased imports of transport equipment, agricultural products and food preparations, textiles and textile articles. The biggest fall occurred in the imports of mineral products.

In August 2016, export prices were at the same level as in August 2015, but import prices were down by 3%.

In August compared to July, the exports of goods increased by 15% and imports by 5%.Diagram: Estonia’s foreign trade by month, 2014–2016

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In July, trade decreased

According to Statistics Estonia, in July 2016, the exports of goods decreased by 6% and imports by 4% compared to July of the previous year. The fall in the exports and imports of goods was influenced the most by the trade with European Union countries.

In July, exports from Estonia amounted to 0.9 billion euros and imports to Estonia to 1.1 billion euros at current prices. There was a significant fall in trade with EU Member States: exports dropped by 8% and imports by 7% compared to July 2015. The trade deficit was 165 million euros (in July 2015, it was 156 million euros).

The top destination country of Estonia’s exports in July was Finland (16% of Estonia’s total exports), followed Sweden by (16%) and Latvia (10%). There was a fall in exports to all neighbouring countries, with the biggest fall having occurred in exports to Sweden and Latvia.  Compared to July 2015, there were decreased exports of electrical equipment and prefabricated buildings of wood to Sweden, and decreased exports of motor spirits and transport equipment to Latvia. The biggest increase occurred in exports to Nigeria and Mexico.

The biggest share in Estonia’s exports in July was held by electrical equipment, followed by mineral products, wood and articles of wood, agricultural products and food preparations, and mechanical appliances. The drop in exports was greatly influenced by a fall in the exports of mineral products (incl. motor spirits) and raw materials and products of the chemical industry (down by 22 million and 10 million euros, respectively).

The main countries of consignment in July were Finland (13% of Estonia’s total imports), Germany (12%) and Lithuania (10%). The biggest drop occurred in imports from Finland and Latvia. Compared to July 2015, there was a fall in the imports of optical appliances from Finland and of electrical equipment from Latvia. The greatest increase occurred in imports from China.

In July, the main commodities imported were electrical equipment, agricultural products and food preparations, mechanical appliances, transport equipment and mineral products. The fall in imports was influenced the most by decreased imports of mineral products (down by 25 million euros).

In July compared to June, the exports of goods decreased by 10% and imports by 7%.

The share of goods of Estonian origin in total exports was 69% in July, being the lowest level this year. The fall in the exports of goods of Estonian origin compared to June 2016 was influenced the most by a drop in the exports of electrical equipment, furniture, base metals and articles of base metal, and wood and articles of wood. Compared to June, the biggest increase has occurred in the exports of mineral products (inc. light fuel oil and electrical energy). By country, the exports of goods of Estonian origin decreased the most in terms of exports to Sweden, Mexico, Finland, Germany and Belgium.Diagram: Estonia’s foreign trade by month, 2014–2016

Source: Statistics Estonia
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Estonia is 38th in World Bank’s logistics performance ranking

Estonia has risen by one notch, to the 38th position, in this year’s World Bank logistics performance rankings, coming in ahead of its southern neighbor Latvia but behind Lithuania.

Countries’ performance was measured according to six criteria: customs, infrastructure, international shipments, logistics competence, tracking and tracing, and timeliness.

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Estonian fish processing businesses hope to double exports to Japan

The Estonian fish processing sector hopes to double its exports to Japan next year, industry executives attending a fish fair in Tokyo told BNS.

“We expect sales in Japan to reach at least seven million euros in 2017,” said Valdur Noormagi, manager of the Estonian Association of Fisheries. He added that exports to Japan this year are estimated to total 3 to 3.5 million euros in value.

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Estonian customs board purchased new x-ray inspection equipment

Estonian Tax and Customs Board (ETCB) concluded a procurement contract of 12, 1 mln euros on Tuesday with the Chinese technology company Nuctech for the purchase of five additional x-ray scanners.

According to Marek Helm, Director General of ETCB, this is the biggest investment in the history of ETCB, which enables the customs to streamline customs checks for traders.

‘With x-ray technology five minutes and one scanned image is enough to make a decision on the need for a first-level control. Physical examination, by contrast, would take several hours including loading and unloading,’ Mr Helm explained.

‘The experience so far related to the existing x-ray equipment has shown that this is the most efficient solution for the inspection of goods traffic and detection of illicit goods. According to Estonian and other states’ experience border crossing points where such technology is not used have proved to be the preferred checkpoints for smugglers,’ Mr Helm said.

By the end of next year it is planned to install fixed x-ray units at Narva railway station and Luhamaa and Koidula border crossing points. Two mobile x-ray units will presumably be completed by the second half of 2017 and used at Narva road border crossing point, the ports of Sillamäe and Tallinn and border crossing points between Latvia and Estonia.

The biggest smuggling case detected with the help of x-ray scanner was in Paldiski in 2015 resulting in a seizure of 7, 7 million illicit cigarettes (1.3 mln euro loss of tax revenues).

ETCB concluded the procurement contract with the European branch of the Chinese company, Nuctech Warsaw Company Limited, based in Poland. The value of the procurement contract is 10.1 mln euros plus VAT of 2 mln euros.

The purchase of the equipment is financed from the European Cohesion Fund in the amount of 2.55 mln euros, and from the state budget in the amount of 9.57 mln euros.

Source: Estonian Tax and Customs Board

In June, the exports and imports of goods decreased

According to Statistics Estonia, in June 2016, the exports and imports of goods both decreased by 2% compared to June of the previous year. The decrease in trade was mostly influenced by a significant drop in the exports and imports of mineral products.

In June, exports from Estonia amounted to 1 billion euros and imports to Estonia to 1.1 billion euros at current prices. The trade deficit was 149 million euros (in June 2015, it was 152 million euros).

The top destination country of Estonia’s exports in June was Sweden (18% of Estonia’s total exports), followed by Finland (16%) and Latvia (9%). The biggest fall occurred in exports to Sweden and the USA. Compared to June 2015, the biggest drop occurred in electrical equipment and prefabricated buildings of wood exported to Sweden and in motor spirits and electrical equipment dispatched to the USA. The biggest increase occurred in exports to Mexico, which was the destination country for communication equipment. Nevertheless, exports to Mexico account for only 2% of Estonia’s total exports.

The biggest share in Estonia’s exports in June was held by electrical equipment, followed by miscellaneous manufactured articles, wood and articles of wood, and agricultural products and food preparations. The fall in exports was significantly influenced by a drop in the prices of mineral products (incl. electricity, motor spirits and their components) and a fall in the exports of wood and articles of wood. The biggest increase occurred in the exports of electrical equipment.

The share of goods of Estonian origin in total exports was 71% in June. The exports of goods of Estonian origin increased the most in trade with Mexico and Belgium.

The main countries of consignment in June were Finland (14% of Estonia’s total imports), Germany (12%) and Lithuania (10%). Compared to June 2015, the biggest decrease occurred in imports from Lithuania and Russia, as there was a fall in mineral products (incl. motor spirits) imported from these countries. At the same time, the greatest increase occurred in imports from Hungary and the Netherlands.

In June, the main commodities imported were electrical equipment, agricultural products and food preparations, transport equipment and mechanical appliances. The fall in imports was influenced the most by decreased imports of mineral products both in terms of their quantity and value (down by 74 million euros). At the same time, there was an increase in the imports of electrical equipment and mechanical appliances.

In the first half-year of 2016, exports remained on the same level and imports increased by 3% compared to the same period of the previous year. Both exports and imports were mostly influenced by a fall in the trade of mineral products. At the same time, there was an increase in the exports of mechanical appliances, prefabricated buildings of wood, and furniture. The greatest increase occurred in the imports of transport equipment and mechanical appliances.

In the first half-year, the biggest rise was recorded in exports to Mexico and Lithuania (up by 41 million and 34 million euros, respectively), the biggest decrease was observed in exports to the Netherlands and the USA (down by 61 million and 48 million euros, respectively).

The biggest increase in the first half-year occurred in imports from Germany and Hungary (up by 68 million and 57 million euros, respectively), while imports from Russia decreased significantly (down by 106 million euros).

Read more from Statistics Estonia