Estonia’s trade shrunk in 201310.02.2014, 16:16
Estonian exports fell 2% year on yea rin 2013, while imports decreased 1% at current prices, compared to 2012, according to Statistics Estonia.
2013 was the first since since 2010 that exports and imports decreased.
In 2013, exports amounted to 12.3 billion euros and imports to Estonia to 13.7 billion euros at current prices. The trade deficit was 1.4 billion euros (in 2012, 1.3 billion euros). The largest trade surplus was recorded in trade with Sweden and Russia and the largest trade deficit occurred in trade with Germany and Lithuania.
In 2013, the main countries of destination were Sweden (17% of Estonia’s total exports), Finland (16%) and Russia (11%). Electrical equipment and wood and products thereof were mainly exported to Sweden, electrical equipment and furniture to Finland, and mechanical equipment and agricultural products and food preparations to Russia. The largest decrease was recorded in exports to the USA and Russia (down by 39% and 7%, respectively), while exports to Latvia increased by 16% and to Finland by 8%.
The main countries of consignment were Finland (15% of Estonia’s total imports), Germany (11%) and Sweden (10%). Mineral products (incl. fuels) and electrical equipment were the main commodities imported from Finland, mechanical and transport equipment from Germany and electrical and transport equipment from Sweden. The most significant decrease occurred in imports from Russia and the Netherlands (down by 22% and 16%, respectively). Imports from Poland increased by 24% and from Finland by 4%.
The most important commodity group in exports was electrical equipment (20% of Estonia’s total exports), followed by mineral products (incl. motor spirits, shale oil and electricity) (11%), and agricultural products and food preparations (10%).
The decrease in Estonia’s exports in 2013 compared to 2012 was mostly caused by the decrease in the exports of mineral products and metals and products thereof (down by 31% and 14%, respectively).
In 2013, the biggest share of Estonia’s imports was held by electrical equipment (18% of Estonia’s total imports), followed by mineral products (13%), and agricultural products and food preparations (11%). Imports of mineral products decreased the most (by 19%). At the same time, the imports of transport equipment (incl. vehicles and railway rolling stock) and agricultural products and food preparations increased (by 12% and 9%, respectively).