Saturday , August 8 2020
Breaking News
Home / World Business / Estonia export of goods decrease 4% in 2015
Estonia export of goods decrease 4% in 2015

Estonia export of goods decrease 4% in 2015

TALLINN: According to Statistics Estonia, in November 2015, exports of goods decreased by 4% and imports stayed on the same level compared to November 2014. The decrease in exports was mostly influenced by a decrease in mineral products and electrical equipment.

In November 2015, exports from Estonia amounted to 1 bln. euros and imports to Estonia to 1.1 bln. euros at current prices. The trade deficit was 102 mln. euros and it increased by 35 mln. euros compared to November 2014.

The biggest share in Estonia’s exports in November was held by electrical equipment (21% of Estonia’s total exports), followed by agricultural products and food preparations (12%), and wood and products thereof (10%). The biggest decrease occurred in the exports of mineral products (down by 35 mln. euros) and electrical equipment (down by 30 mln. euros). The mineral products (incl. motor spirit, fuel oils, gas, electrical energy) exports were influenced the most by a decrease in quantity and in monetary value. Exports in the electrical equipment chapter were influenced the most by a decrease in the exports of data communications equipment. Compared to November 2014, the biggest increase occurred in the exports of miscellaneous manufactured articles and textiles and products thereof (up by 10 and 6 mln. euros, respectively).

In November, the main commodities imported to Estonia were electrical equipment (18% of Estonia’s total imports), agricultural products and food preparations (11%), mechanical appliances (10%), transport equipment (10%) and mineral products (10%). The drop in imports was influenced the most by a decrease in the imports of electrical equipment and mineral products (down by 27 and 18 mln. euros, respectively). The imports of electrical equipment were influenced the most by a decrease in communication equipment components. The imports of mineral products were influenced the most by a decrease in oil price.

The top destination country of Estonia’s exports in November was Sweden (18% of Estonia’s total exports), followed by Finland (16%) and Latvia (10%). The biggest decrease occurred in exports to Sweden, the USA and Spain (down by 25, 17 and 14 mln. euros, respectively). Exports to Sweden and Spain decreased mainly due to a decrease in the exports of electrical equipment. Exports to the USA decreased mainly due to a decrease in the exports of mineral products. At the same time, there was a significant increase in the exports to Finland and Lithuania (up by 13 and 7 mln. euros, respectively), mainly due to the exports of electrical equipment.

The main countries of consignment were Finland (15% of Estonia’s total imports), Germany (11%), Latvia (9%), Lithuania (9%) and Sweden (9%). The biggest decrease occurred in imports from Poland (down by 11 mln. euros), Finland and Russia (both down by 10 mln. euros). Imports from Poland decreased mainly due to a decrease in the imports of electrical equipment; imports from Finland and Russia decreased due to the decreased imports of mineral products. At the same time, the greatest increase occurred in the imports from Lithuania (up by 17 mln. euros).

In November compared to October 2015, exports decreased by 1% and imports by 3%.