In May exports of goods increased

PHOTO: SCANPIX

According to Statistics Estonia, in May 2013, exports of goods increased by 6% at current prices while imports remained at the same level compared to May of the previous year. Exports increased also compared to April of this year.

In May, exports from Estonia amounted to 1.11 billion euros and imports to Estonia to 1.16 billion euros at current prices. The trade deficit was 54 million euros. The deficit decreased by 54% compared to May 2012, since the growth in exports was faster than in imports.

The top destination countries of Estonia’s exports were Sweden (18% of Estonia’s total exports), followed by Finland (15%) and Russia (12%). Exports increased to all main partner countries, excl. Germany. Compared to May 2012, the increase in total exports was mostly influenced by the increase in the dispatches to Sweden and Russia (up by 18% and 15%, respectively). Electrical equipment and wood and furniture were the main commodities exported to Sweden and Finland; mechanical equipment and furniture were the main articles exported to Russia.

In May, the main countries of consignment were Finland (13% of Estonia’s total imports), Sweden (11%)  and Germany (11%). Compared to May of the previous year, arrivals of goods from Russia and Finland decreased (down by 54% and 2%, respectively). At the same time, arrivals of goods from Poland and Sweden increased (up by 51% and 25%, respectively). Electrical equipment was the main commodity imported from Finland, Sweden and Poland; vehicles and parts thereof was the main commodity imported from Germany.

In Estonia’s exports in May, the biggest share was held by machinery and equipment (30% of Estonia’s total exports), followed by mineral fuels (11%) and agricultural products and food preparations (9%). The increase in exports compared to May 2012 was mainly influenced by the increase in the dispatches of machinery and equipment (8% growth) and agricultural products and food preparations (21% growth). At the same time, the dispatches of metals and products thereof decreased significantly (down by 28%).

In May the biggest share of Estonia’s imports was held by machinery and equipment (32% of Estonia’s total imports), followed by agricultural products and food preparations (11%) and mineral fuels (11%). The arrivals of machinery and equipment increased by 12% while arrivals of mineral fuels decreased by 27%.

Compared to April 2013, exports increased by 3%, while imports decreased by 4%. The monthly increase in exports was influenced by the increase in the dispatches of mineral fuels.

In May 2013, compared to May of the previous year, export prices fell by 2% and import prices by 3%.

Estonia’s foreign trade, January–May, 2012–2013
MonthExports, million eurosImports, million eurosBalance, million euros
20122013change, %20122013change, %20122013
January947.71 128.319981.61 141.816-33.9-13.5
February980.8956.9-21 090.41 065.8-2-109.6-108.8
March1 073.61 005.7-61 198.21 125.2-6-124.6-119.5
April1 022.11 077.851 123.31 207.37-101.2-129.6
May1 040.71 105.561 156.21 159.00-115.5-53.5
Main foreign trade partners of Estonia, May 2013
Country of

 

destination,

group of

countries

Exports,

 

million euros

Share,

 

%

Change compared to

 

same month of

previous year, %

Country of

 

consignment,

group of countries

Imports,

 

million

euros

Share,

 

%

Change

 

compared to

same month of

previous year, %

Total1 105.51006Total1 159.01000
EU27766.4698EU27967.88410
EA328.6308EA414.736-5
CIS155.7146CIS69.36-57
1. Sweden195.018181. Finland155.513-2
2. Finland167.31522. Sweden129.91125
3. Russia136.912153. Germany125.1110
4. Latvia96.89114. Latvia112.0106
5. Lithuania68.1655. Lithuania98.1831
6. Norway47.94146. Poland83.9751
7. Germany46.34-57. United Kingdom70.1654
8. USA42.94518. Russia56.65-54
9. Netherlands35.13339. China47.1412
10. Belgium27.3211710. Netherlands39.33-12
Exports and imports by commodity sections, May 2013
Commodity section by Combined Nomenclature (CN)ExportsImportsBalance,

 

million euros

million

 

euros

share,

 

%

change compared to

 

same month of

previous year, %

million

 

euros

share,

 

%

change compared to

 

same month of

previous year, %

TOTAL1 105.510061 159.01000-53.5
Agricultural products and food preparations (I–IV)101.1921128.81111-27.7
Mineral products (V)120.611-6127.111-27-6.6
Raw materials and products of chemical industry (VI)55.651889.881-34.1
Articles of plastics and rubber (VII)34.43-461.053-26.6
Wood and products thereof (IX)97.091330.53-366.4
Paper and articles thereof (X)27.121121.3245.8
Textiles and products thereof (XI)32.931943.94-6-11.0
Metals and products thereof (XV)74.37-2883.97-14-9.6
Machinery and equipment (XVI)332.6308365.83212-33.2
Transport equipment (XVII)62.56-399.79-14-37.2
Miscellaneous manufactured articles (XX)86.081232.533753.5
Other81.774674.76346.9
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