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In October, export growth was supported by the exports of goods of Estonian origin

According to Statistics  Estonia, in October 2016, the exports of goods increased by 2% and imports by 3%  compared to October of the previous year. Compared to October 2015, the exports  of goods of Estonian origin increased by 3% and re-exports, i.e. the  exportation of goods imported from a foreign country, stayed at the same level.

In October, exports from Estonia amounted to 1.0 billion euros and imports to Estonia to 1.2 billion euros at current prices. The trade deficit was 151 million euros (in October 2015, it was 129 million euros).

The top destination country of Estonia’s exports in October was Sweden (16% of Estonia’s total exports), followed by Finland (16%) and Latvia (9%). The biggest increase occurred in exports to Mexico and Germany (up by 15 million euros to both), mainly due to increased exports of electrical equipment. Exports to Sweden and Latvia decreased the most.

The biggest share in exports was held by electrical equipment, followed by wood and articles of wood, agricultural products and food preparations. The increase in exports was influenced by the exports of optical, measuring, checking and medical instruments (incl. medical apparatus, measuring instruments, thermostats), electrical equipment (incl. communication equipment) and mineral products (incl. motor spirit, shale oil). There was a decrease in the exports of agricultural products and food preparations and transport equipment.

The share of goods of Estonian origin in total exports was 72% in October. The exports of goods of Estonian origin were influenced the most by a rise in the exports of mineral products (incl. shale oil, electricity) and electrical equipment. Among goods of Estonian origin, the biggest decrease occurred in the exports of agricultural products and food preparations due to decreased exports of cereals and fish, whereas the export of dried peas increased. The biggest share of goods of Estonian origin are exported to Sweden, Finland and Germany. The biggest increase in the exports of goods of Estonian origin was in the exports to Mexico, Togo and Rumania.

The main countries of consignment in October were Finland (12% of Estonia’s total imports), Germany (11%), and the Netherlands (10%). The biggest increase was in imports from the Netherlands, which doubled. Compared to October 2015, more electrical equipment and transport equipment was imported from the Netherlands. The greatest decrease occurred in imports from Finland.

In October, the main commodities imported to Estonia were electrical equipment, transport equipment, agricultural products and food preparations. The growth in imports was influenced the most by the imports of transport equipment. The biggest fall occurred in the imports of mineral products.

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

(Source: https://www.stat.ee/news-release-2016-138)


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