In October the decline in exports was mostly influenced by agricultural goods

Lehmad.

PHOTO: Mihkel Maripuu

According to Statistics Estonia, in October 2013, exports of goods decreased by 1% and imports by 6% at current prices compared to October of the previous year. The decrease in exports was mostly influenced by the dispatches of agricultural goods which declined by 17% compared to October 2012.

In October, exports from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.2 billion euros. Although Estonia’s total imports were at the highest level of this year, they did not reach the level of October 2012. The trade balance amounted to 142 million euros (210 million euros in October 2012).

In Estonia’s exports, the biggest share was held by electrical equipment (19% of Estonia’s total exports), followed by agricultural products and food preparations (12%) and wood and products thereof (9%). The decrease in exports compared to October 2012 was mainly influenced by the decrease in the dispatches of agricultural products and food preparations, and electrical equipment (down by 17% and 9%, respectively). At the same time, the dispatches of wood and products thereof and transport equipment increased (up by 18% and 30%, respectively).

In October the biggest share of Estonia’s imports was held by electrical equipment (16% of Estonia’s total imports), followed by transport equipment (12%) and agricultural products and food preparations (12%). Arrivals of electrical equipment decreased the most (by 36%). At the same time, arrivals of transport equipment (incl. vehicles and railway rolling stock) and agricultural products and food preparations (incl. miscellaneous edible preparations and prepared animal fodders) increased (by 21% and 11%, respectively).

The top destination countries of Estonia’s exports were Sweden (16% of Estonia’s total exports), followed by Finland (16%) and Russia (13%). The slight decrease in total exports compared to October 2012 was mainly influenced by the decrease in the dispatches to Lithuania and Germany (down by 8% or 7%). The fall in exports to Lithuania was mainly influenced by the decline in the dispatches of fuels; exports to Germany decreased mainly due to the decrease in the dispatches of rapeseed. At the same time, exports to Russia and Belgium increased vigorously (by 17% and 90%, respectively). Exports to Russia were influenced by the increase in re-exported goods (incl. mechanical equipment). The growth in exports to Belgium was influenced by the increase in the dispatches of shale oil.

In October, the main countries of consignment were Finland (16% of Estonia’s total imports), Germany (11%) and Latvia (10%). The 6% decrease in total imports compared to October 2012 was mainly influenced by the decrease in the arrivals from Sweden and China (down by 23% and 30%, respectively). Arrivals from those countries decreased mainly due to the decrease in the arrivals of electrical equipment. At the same time, arrivals of goods from Poland increased by 45%, mainly due to the increase in the arrivals of railway rolling stock.

In October compared to September 2013, exports increased by 5% and imports by 8%.

On a monthly basis, or compared to the previous month, exports increased already for the third successive month. The monthly increase in exports was mostly influenced by the increase in the dispatches of electrical equipment, while imports were mainly influenced by increased arrivals of railway rolling stock.

According to Eurostat, in October and November, the economic sentiment indicator, which reflects entrepreneurs’ and consumers’ confidence, increased in Estonia and in Estonia’s main partner countries. The economic sentiment indicator has risen in Estonia since July, which is also reflected by the growth in exports on a monthly basis.

Estonia’s foreign trade, January–October, 2012–2013
MonthExports, million eurosImports, million eurosBalance, million euros
20122013change, %20122013change, %20122013
January946.71 129.219985.31 146.816-38.6-17.6
February980.6960.8-21 093.51 071.7-2-112.9-110.9
March1 071.81 006.0-61 203.41 124.6-7-131.6-118.6
April1 020.71 077.461 129.01 207.57-108.3-130.1
May1 038.01 113.371 161.91 190.22-123.8-76.9
June1 024.5976.3-51 152.91 156.40-128.3-180.1
July1 047.5941.0-101 164.31 133.3-3-116.8-192.3
August1 125.41 004.6-111 236.21 092.8-12-110.8-88.2
September1 121.91 032.4-81 157.61 138.6-2-35.8-106.2
October1 101.21 089.1-11 311.01 230.9-6-209.8-141.9
Estonia’s foreign trade, January–October, 2012–2013
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 089.1100-1Total1 230.9100-6
EU-28769711EU-281 042.8850
EA325.230-1EA483.8394
CIS170.91614CIS83.17-6
1. Sweden177.516-11. Finland194.21615
2. Finland1731622. Germany139.31112
3. Russia145.913173. Latvia126109
4. Latvia122.51184. Sweden116.39-23
5. Lithuania57.45-85. Poland114.5945
6. Germany51.45-76. Lithuania101.58-11
7. Norway37.7327. Russia62.75-3
8. Belgium29.23908. United Kingdom45.24-4
9. Denmark27.73179. Netherlands39.13-22
10. United Kingdom25.423010. China35.33-30
Exports and imports by commodity sections, October 2013
Commodity section (chapter) by
Combined Nomenclature (CN)
ExportsImportsBalance,
million euros
million eurosshare,
%
change
compared to
same month of
previous year, %
million
euros
share,
%
change compared
to same month of
previous year, %
TOTAL1 089.1100-11 230.9100-6-141.9
Agricultural products and food preparations (I–IV)132.212-17144.51211-12.2
Mineral products (V)93.09-16120.010-20-27.0
Raw materials and products of chemical industry (VI)52.45394.88-13-42.4
Articles of plastics and rubber (VII)40.24469.967-29.7
Wood and products thereof (IX)97.891834.932262.9
Paper and articles thereof (X)27.53-125.5272.0
Textiles and products thereof (XI)40.241559.15-1-18.9
Metals and products thereof (XV)81.98-499.788-17.8
Mechanical appliances (84)91.086119.4101-28.4
Electrical equipment (85)210.519-9200.516-3610.0
Transport equipment (XVII)65.2630149.31221-84.1
Miscellaneous manufactured articles (XX)82.58430.93451.6
Other74.751382.4522-7.9
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