Trade continued to decline in 2019, with a fall of 10% in imports and exports YoY in November 2019, according to the state agency Statistics Estonia. Trade contracted in most commodity areas.
In November 2019 Estonia’s goods exports totaled EUR 1.2 billion and imports EUR 1.3 billion at current prices. The trade deficit was EUR 61 million, remaining approximately at the level of November 2018. Trade declined the most – by nearly a quarter – with non-EU countries.
The top destination countries of Estonia’s exports were Finland, Sweden and Latvia. The biggest decrease occurred in exports to the USA (by EUR 62 million), Singapore (by EUR 37 million) and Latvia (by EUR 21 million). Exports increased the most to the Netherlands (by EUR 32 million), predominantly in fuel sales.
The biggest exports from Estonia came in electrical equipment, agricultural products and food preparations, and wood and articles of wood.
The greatest decline in exports came from electrical equipment (by EUR 63 million) and mineral products (by EUR 56 million). Exports increased the most for base metals and articles of base metal (by EUR 12 million).
Goods of Estonian origin accounted for 74% of the total exports of goods. Their exports decreased by 9% and re-exports by 13%, compared with November 2018. The fall in the exports of these products mainly came from electrical equipment (communications equipment), mineral products (fuel oil) and wood and articles of wood (pulpwood, planed timber).
In imports the main countries of consignment were Finland, Lithuania and Latvia. Imports decreased the most from Russia (by EUR 63 million), China and Sweden (both by EUR 23 million) and Finland (by EUR 22 million). Imports increased the most from India and Lithuania (both by EUR 13 million). An increase was seen in imports of aircraft components (India) and motor spirits (Lithunia) according to the agency.
The main commodities imported to Estonia were electrical equipment, transport equipment, mineral products, and agricultural products and food preparations. The biggest decrease occurred in the imports of mineral products (down by 60 million euros) and electrical equipment (by 46 million euros). (ERR/Business World Magazine)
