Estonia's exports up 6 percent in a year in first half09.08.2012, 10:13
In the first half-year of 2012, exports increased by 3% and imports by 6%, according to Statistics Estonia.
In June 2012, exports of goods from Estonia increased by 7% at current prices and imports to Estonia by 14% compared to June of the previous year.
In June 2012, exports from Estonia amounted to 1.02 billion euros and imports to Estonia to 1.14 billion euros at current prices.
In Estonia’s exports in June, the biggest share was held by machinery and equipment (29% of Estonia’s total exports), followed by mineral fuels (incl. motor spirits, shale oils and electricity – 14%) and metals and products thereof (9%). The increase in exports compared to June 2011 was mainly influenced by the increase in the dispatches of machinery and equipment (up by 6%). An increase was also mentioned in the dispatches of mineral fuels and agricultural products and food preparations (the growth rate 12% and 18%, respectively).
In June the biggest share of Estonia’s imports was held by machinery and equipment (28% of Estonia’s total imports), followed by mineral fuels (17%) and agricultural products and food preparations (10%). There was a significant increase in the arrivals of mineral fuels (up by 38%) compared to June of the previous year.
The biggest share of commodities was exported to Sweden (19% of Estonia’s total exports), Finland (16%) and Russia (13%). Compared to June 2011, the increase in total exports was mostly influenced by the increase in the dispatches to Sweden and Russia (up by 21% and 33%, respectively). Electrical equipment, fuels, wood and products of wood were the main commodities exported to Sweden, electrical equipment and furniture to Finland and mechanical and electrical equipment and dyeing products to Russia.
The main countries of consignment were Finland (15% of Estonia’s total imports), Sweden (11%) and Latvia (10%). The increase in total imports was mostly influenced by the increase in the arrivals from Finland, Belarus and Russia. Fuels and electrical equipment were the main commodities imported from Finland, electrical equipment and transport equipment from Sweden, and fuels and electrical equipment from Latvia.
Compared to May this year, exports decreased by 2% and imports by 1%. The slight decrease in the monthly comparison might be influenced also by the usual trade decrease due to the beginning of the holiday season in June.