Exports up 39% in a year, imports grow 47%
12.07.2010, 12:27According to Statistics Estonia, in May 2010 compared to May of the previous year, exports of goods grew by 39% and imports by 47% at current prices.
In May compared to April, exports grew by 6% and imports by 14%.
May exports amounted to 11.3 billion kroons and imports to Estonia totalled 12.5 billion kroons at current prices.
Exports were bigger than that last in October 2008. Exports increased by 3.1 billion kroons and imports by 4 billion kroons compared to May of the previous year.
Due to a faster growth in imports compared to exports, the foreign trade deficit increased to 1.2 billion kroons in May. Trade deficit was more than three times bigger compared to May of the previous year.
The value of goods exported from Estonia to the European Union (EU) countries amounted to 7.4 billion kroons accounting for nearly two thirds of Estonia’s total exports. Exports to the EU countries increased by 29% compared to May of the previous year. Exports to non-EU countries or the so-called third countries increased by 61%.
Imports from the EU countries to Estonia totalled 9.9 billion kroons with the share of 79% of Estonia’s total imports. Imports from the EU countries increased by 45% compared to May of the previous year. Imports from the so-called third countries increased by 55%.