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In February, the exports increased by 15% and imports by 13% in Estonia

According to Statistics Estonia, in February 2018, the exports of goods increased by 15% and imports by 13% compared to February 2017. There was significant growth in exports to non-EU countries, mineral products (fuels and fuel additives) were exported the most.

In February 2018, exports from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.2 billion euros. The trade deficit was 93 million euros (in February 2017, it was 100 million euros).

In February, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports), Sweden (11%) and Latvia (8%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; electrical equipment and wood and articles of wood (wood in the rough, doors and windows of coniferous wood) were the main commodities exported to Sweden; and transport equipment (motor cars), agricultural products and food preparations (spirits, beer, wheat) were the main commodities exported to Latvia. The biggest increase occurred in exports to Singapore (up by 28 million euros), Germany (up by 23 million euros) and the United Kingdom (up by 21 million euros). In exports to Singapore and the United Kingdom, the exports of mineral products increased. There was also an increase in the exports of electrical equipment to Germany. The biggest decrease occurred in exports to the Netherlands (down by 20 million euros), where less mineral products were dispatched.

In February, the biggest share in the exports of goods was held by mineral products (16% of the total exports of goods), followed by electrical equipment (15%) and wood and articles of wood (11%). The last time the exports of mineral products surpassed the exports of electrical equipment was in 2011. The greatest increase was in the exports of mineral products (up by 70 million euros), metals and articles of base metal (up by 24 million euros) and mechanical appliances and electrical equipment (both up by 12 million euros). At the same time, the exports of miscellaneous manufactured articles decreased (down by 9 million euros).

The share of goods of Estonian origin in total exports was 74% in February 2018. The exports of goods of Estonian origin grew by 14% and re-exports by 18%. The exports of goods of Estonian origin grew the most in the commodity sections of mineral products (shale oil, fuel additives), metals and articles of base metal (metal waste, metal structures) and agricultural products and food preparations (barley, rape). The exports of miscellaneous manufactured articles decreased (prefabricated wood buildings, lighting fixtures).

(Source: http://www.baltic-course.com/eng/good_for_business/?doc=139153)

10.04.2018

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