Analyst: Finland becoming main destination for Estonian goods is remarkable

  • 2017-08-09
  • LETA/TBT Staff

TALLINN – It is remarkable that Finland has become the biggest destination country for the export of Estonian goods, economic analyst at SEB Pank Mihkel Nestor said.

"It is definitely a remarkable event that after several years Finland is once again the main destination for Estonian goods. Although in essence Finland has not lost this position, as a result of a reorganization of a large Swedish company the amount of goods exported to Sweden has declined," Nestor told BNS, adding that Finland's faster economic growth than expected has also been of help.

Nestor does not expect export volumes in the direction of Russia to increase substantially.

In June the exports of Estonian goods increased by 11 percent and imports by 6 percent on year, while in the second quarter exports grew 8 percent and imports 7 percent compared to the same quarter a year before.

In June 2017, exports from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.2 billion euros at current prices. The trade deficit was 123 million euros, while in June 2016 it was 156 million euros, Statistics Estonia reported on Wednesday.