Trade surplus for Estonia long way off

  • 2009-10-22
  • From wire reports
TALLINN - Exports of goods from Estonia in August this year reached 7.8 billion kroons (500 million euros), while imports came in at 9.3 billion kroons, reports news wire Compared to August of last year, the value of exports of goods decreased by 30 percent, or 3.4 billion kroons; imports dropped by 31 percent or 4.1 billion kroons.
These figures led to a foreign trade deficit of 1.5 billion kroons, which is nearly a third smaller compared to the same month the previous year. The foreign trade deficit has been shrinking noticeably since January.

In August the value of goods exported from Estonia to the European Union countries was 5.2 billion kroons accounting for two thirds of Estonia's total exports. Compared to August of the previous year, exports to the EU countries decreased by 2.4 billion kroons, or 31 percent. Exports from Estonia to non-EU countries, the so-called third countries, came to nearly 2.6 billion kroons, which is 28 percent less compared to August 2008.
Imports from European Union countries in August totaled 7.2 billion kroons, equal to 77 percent of Estonia's total imports. This was a decrease of 3.4 billion kroons, or nearly a third, compared to August of last year. Imports from other countries than the EU amounted to 2.1 billion kroons, 26 percent less than last August.

The foreign trade deficit with European Union countries accounted for 2 billion kroons, versus 3 billion kroons last August. The trade balance with countries other than the EU was slightly on the positive side, as exports to these countries exceeded imports by approximately 0.5 billion kroons.
Compared to July 2009, exports of goods fell by 5 percent, and imports by 3 percent.