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Trade with EU contries on the rise in Estonia

According to Statistics Estonia, in March 2019, compared to March 2018, the exports of goods increased by 8% and imports by 5%. The trade growth was due to increased exports and imports with the European Union countries.

In March, exports from Estonia amounted to 1.2 billion euros and imports to Estonia to 1.4 billion euros at current prices. The trade deficit was 177 million euros, which was 22 million euros less than in the same period last year, Statistics Estonia writes.

In March, exports to EU Member States increased by 104 million euros and imports by 71 million euros. The share of the European Union was 72% in total exports and 80% in imports. The share of EU countries was previously this large in November 2017, and the share of imports, in May 2018.

Finland, Sweden and Latvia in the top of exports

In March, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports), Sweden (10%) and Latvia (9%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; miscellaneous manufactured articles, and wood and articles of wood to Sweden; transport equipment, and agricultural products and food preparations to Latvia. The biggest increases occurred in exports to the USA (up by 50 million euros), Denmark (up by 25 million euros) and Belgium (up by 20 million euros). In exports to the USA, the increase was largest in the exports of data communication equipment, to Denmark and Belgium, in the exports of mineral products. The biggest decrease occurred in exports to Singapore (down by 19 million euros), where less mineral products were dispatched.

The biggest share in exports of goods was held by electrical equipment (15% of Estonia’s total exports), followed by mineral products, and wood and articles of wood (both 12%). The biggest increase was in the exports of base metals and articles of base metal (up by 22 million euros), and agricultural products and food preparations (up by 13 million euros). The biggest decrease occurred in exports of electrical equipment (down by 7 million euros).

72 per cent of exports of Estonian origin

The share of goods of Estonian origin in total exports was 72% in March. The exports of goods of Estonian origin grew by 8% and re-exports by 7% compared to March last year. In the exports of goods of Estonian origin, the biggest growth was in the exports of mineral products (shale spirit, aviation spirit, shale oil), miscellaneous manufactured articles (prefabricated wood buildings, furniture), base metals and articles of base metal (metal waste, metal structures).

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