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In November, both exports and imports increased

According to Statistics  Estonia, in November 2016, the exports of goods increased by 6% and imports by 7%  compared to November 2015. The rise in exports was influenced the most by an  increase in the exportation of wood and articles of wood and mechanical  appliances and the rise in imports by an increase in the importation of base  metals and articles of base metal.

In November 2016, 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 113 million euros (in November 2015, it was 94 million euros).

The top destination countries of Estonia’s exports in November were Sweden (17% of Estonia’s total exports), Finland (17%) and Latvia (8%). The biggest increase occurred in exports to Finland and Germany (up by 22 million euros and 16 million euros, respectively), mainly due to increased exports of electricity to Finland and of communication equipment to Germany. Exports to Latvia and the Netherlands decreased the most.

The biggest share in exports was held by electrical equipment, followed by agricultural products and food preparations, and wood and articles of wood. The increase in exports was influenced by the exports of wood and articles of wood and mechanical appliances. There was a decrease in the exports of electrical equipment and paper and articles thereof.

The share of goods of Estonian origin in total exports was 72% in November 2016. In November 2016 compared to November 2015, the exports of goods of Estonian origin grew 7% while re-exports, i.e. the exportation of goods imported from a foreign country, increased 2%. The rise in the exports of goods of Estonian origin were influenced the most by an increase in the exports of wood and articles of wood (incl. planed coniferous wood, windows), mechanical appliances (incl. machinery, machinery parts, lifts, hoists), and mineral products (incl. shale oil, electricity). Among goods of Estonian origin, the exports of paper and articles thereof dropped to most, due to decreased exports of products of the printing industry and wood pulp.

The biggest share of goods of Estonian origin is exported to Sweden, Finland and Germany. The biggest increase in the exports of goods of Estonian origin was in the exports to Germany (by 13 million euros).

The main countries of consignment in November 2016 were Finland (12% of Estonia’s total imports), Germany (11%), and Lithuania (10%). The biggest increase occurred in imports from Lithuania and France, while imports from Finland decreased the most.

In November, the main commodities imported to Estonia were electrical equipment, agricultural products and food preparations, and mechanical appliances. The growth in imports was influenced the most by an increase in the imports of base metals and articles of base metal and raw materials and products of chemical industry. The biggest fall occurred in the imports of electrical equipment.

In November 2016, export prices increased by 3% and import prices by 1%.

(Source: https://www.stat.ee/news-release-2017-006)

24.01.2017

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