Estonian trade deficit stabilising

  • 2007-07-25
  • By Mike Collier
TALLINN - According to preliminary data from Statistics Estonia, Estonian foreign trade turnover increased by 27.2 billion kroons (1.74 million euros) in May 2007 compared with May 2006. Foreign trade turnover increased by 11 percent and, compared with April 2007, by 7 percent.

In May exports totalled 11.6 billion kroons (741 million euros) and imports 15.6 billion kroons (997 million euros). Compared to May 2006, the exports of goods increased 10 percent, and compared to April 2007 the increase was 13 percent. The import of goods increased 11 percent, which represents a 4 percent increase on April's figure.

The foreign trade deficit remains relatively stable at 4 billion kroons (256 million euros), compared with 3.5 billion kroons in May 2006 and 4.8 billion kroons in April 2007.

The main destination countries for exports were Finland (17 percent), Sweden (12 percent) and Latvia (10 percent).

Most major industries recorded increased exports, including mineral products, metals, agricultural products and paper. The only notable downturn came in exports of machinery and equipment, which dipped by 310 million kroons (19 million euros).