According to Statistics Estonia, in June 2024, compared to the same period last year, the export of goods decreased by 14%, and import by 11%. Goods worth approximately 1.4 billion euros were exported at current prices, and approximately 1.6 billion euros were imported. The trade deficit was 268 million euros, which is 20 million more than a year earlier. Jane Leppmets, an analyst at Statistics Estonia, noted that in the first half of the year, goods worth almost 8.6 billion euros were exported at current prices, and almost 10.2 billion euros were imported. “In the first half of the year, the export of goods decreased by 11%, and import by 7%. The decrease in exports in June and throughout the first half of the year was mostly due to the decrease in the export of mineral products, mechanical machinery and transport equipment,” Leppmets added. In terms of goods, the largest exports in June were electrical equipment (15% of total exports), agricultural products and food products (12%), transport vehicles (10%), and timber and timber products (10%). In a year-on-year comparison, the largest decreases were in the exports of mineral products (by 59 million euros, i.e. 33%) and mechanical machinery (by 46 million euros, i.e. 28%). “The exports of goods of Estonian origin have decreased by 11% over the year. In a year-on-year comparison, the share of goods of Estonian origin in total exports has increased by 2 percentage points, and in June of this year, they amounted to 65% of total exports,” she said. The main export partners in June were Finland (15% of total exports), Latvia (14%), and Sweden (10%). Electrical equipment was the largest exporter to Finland and Sweden, while mineral products were the largest exporter to Latvia. Compared to last year, the export of goods has decreased the most to Finland (by 44 million euros, i.e. by 18%), Singapore (by 36 million euros, i.e. by 98%), the United Kingdom (by 33 million euros, i.e. by 53%) and Russia (by 31 million euros, i.e. by 50%). The analyst explained that the most imported goods in June were agricultural products and food products (14% of the total import volume), electrical equipment (13%) and transport vehicles (13%). Compared to last year, the import of transport vehicles to Estonia has decreased the most (by 60 million euros, i.e. by 22%), mechanical machinery (by 46 million euros, i.e. by 24%) and metal and metal products (by 28 million euros, i.e. by 17%). The largest increase in imports was in agricultural products and food products, by 12 million euros (6%). In June, the largest number of goods were imported from Finland (14% of total imports), Lithuania (11%) and Germany (10%). The largest number of imported goods from Finland and Lithuania was mineral products, while the largest number was imported from Germany was transport equipment. The largest decrease in imports was in Finland (by 60 million euros, or 20%) and Germany (by 55 million euros, or 24%), while the largest increase was in the United States (by 23 million euros, or slightly more than double). As of January 2024, the retroactive import data estimates have been partially replaced by detailed data from other countries. The updated data was first published in the database on 10 June 2024. More information about the changes can be found here. Statistics Estonia collects and analyses foreign trade data on behalf of the Ministry of Economic Affairs and Communications in order to obtain an overview of the current situation of Estonian exporting and importing enterprises. See also the section on foreign trade. Visualized data on Estonia's foreign trade is available in the Statistics Estonia app. More detailed data is published in the statistical database. Due to rounding, the sum of the rows may differ from the total of the column. Read RusDelfi wherever you like. Follow us on Facebook, Telegram, Instagram, and even TikTok.
