Estonia's exports, imports down in July

TALLINN (BNS) - Both Estonian exports and imports dropped in July against the previous month, according to Statistics Department data. Meanwhile, the foreign trade deficit grew by 400 million kroons ($26.9 million) to 1.4 billion kroons.

According to preliminary figures, the foreign trade turnover last month was 7.6 billion kroons, of this 3.1 billion kroons, or 41 percent of the total, in exports and 4.5 billion kroons (59 percent) in imports.

The trade gap was 1.4 billion kroons as compared with 2.5 billion kroons in July 1998 and 1 billion kroons in June 1999.

Exports were down by 4 percent year-on-year and 14 percent as compared with June.

The export of goods declined by 15 percent and re-export from bonded warehouses by 19 percent.

The year-on-year drop in imports was 23 percent. Compared with the previous month, July's imports were 4 percent smaller.

The import of goods into bonded warehouses grew by 1 percent. Imports for domestic consumption dropped 8 percent, while the import of goods for processing locally grew 2 percent.

The share of farming produce and foods, vehicles and mineral products for export increased in July as compared with June.