According to Statistics Estonia, in August compared to August of 2009, exports grew by 37% and imports by 34% at current prices. Exports to Sweden increased by 67% and imports from Sweden increased twofold.
In August 2010 exports of goods from Estonia amounted to 11.2 billion kroons (713 million euros) and imports to Estonia to 12.2 billion kroons (781 million euros). The trade deficit amounted to 1 billion kroons (67 million euros), which somewhat increased compared to August 2009.
In August the main countries of destination were Finland (17% of Estonia’s total exports), Sweden (16%) and Russia (12%). Compared to August of the previous year, exports to Sweden increased the most (67%). Exports to Sweden amounted to 1.8 billion kroons (112 million euros). Electrical equipment, wood and products thereof and furniture were mainly exported to Sweden.
The main countries from where goods were imported to Estonia were Finland (16% of Estonia’s total imports), Germany and Sweden (12% from each). The biggest increase was announced in the arrivals from Finland and Sweden. Mineral fuels (incl. petroleum oils) and electrical equipment were mainly imported from Finland. Electrical equipment, vehicles and parts thereof were mainly imported from Sweden.
In August, the biggest share in Estonia’s exports was held by the commodities of machinery and equipment (23% of Estonia’s total exports), mineral products (13%) and agricultural products and food preparations (10%). Compared to August of the previous year, exports of machinery and equipment increased by 71%. Exports of wood and products thereof increased by 58% and exports of agricultural products and food preparations by 45%.
In August the biggest share in Estonia’s imports was held by machinery and equipment (24% of Estonia’s total imports), mineral products (18%) and agricultural products and food preparations (12%). Compared to August 2009, arrivals of machinery and equipment increased by 90%. Imports of metals and products thereof also increased significantly.
During the eight months (January–August 2010) the turnover of exports of goods from Estonia increased by 26% and of imports to Estonia by 21% compared to the same period of the previous year. According to Eurostat, both exports and imports of goods of EU as a whole increased by 22% during the same period.
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Trade with Sweden on the upswing