Exports up 60%, imports grow 68% in April09.06.2011, 10:32
According to Statistics Estonia, in April 2011, the exports of goods from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.2 billion euros at current prices.
Exports grew by 60% and imports by 68% compared to the same month of the previous year.
Due to a faster growth in exports than in imports, the foreign trade deficit also increased. In April 2010, the trade deficit was 17 million euros, but in April this year the trade deficit was 87 million euros.
In Estonia’s exports in April the biggest shares were held by machinery and equipment (27% of Estonia’s total exports), mineral products (incl. motor spirits, fuel oils and electricity) – 23% and metals and products thereof (9%). Compared to April 2010, exports of machinery and equipment and mineral products increased the most, both 2.3 times.
In April the biggest shares of Estonia’s imports were held by mineral products (27% of Estonia’s total imports), machinery and equipment (25%), and agricultural products and food preparations (8%). Compared to April 2010, arrivals of mineral products and machinery and equipment increased the most (2.7 and 2.1 times, respectively). Imports of transport equipment also increased significantly (79%).
The first place among destination countries of exports was held by Sweden (18% of Estonia’s total exports), followed by Finland (14%) and Russia (8%). Compared to April 2010, exports increased the most to Sweden and France (by 102 and 56 million euros, respectively). Electrical equipment and fuels were mainly exported to Sweden, electrical equipment and furniture to Finland and mechanical and electrical equipment to Russia.
For the second month in succession, the largest amounts of goods were imported from Russia (16% of Estonia’s total imports in April), followed by Latvia and Sweden (12% and 11%, respectively). During the year, arrivals of goods from Russia and Sweden have increased the most (122 and 58 million euros, respectively). From Russia, mainly fuels and wood and products thereof were imported, from Latvia – fuels and electrical equipment, and from Sweden – electrical equipment and vehicles.