Global rebound drives results for exporters

TALLINN - Exports of goods in April 2010 rose by 37 percent and imports by 18 percent in comparison to the same month last year, shows data from Statistics Estonia, reports news agency LETA. Exports increased in all commodities, particularly in fuels.

Exports of goods from Estonia amounted to 10.6 billion kroons (679.4 million euros) in April and imports into Estonia reached 11 billion kroons. Exports grew by 2.9 billion kroons, and imports by 1.7 billion kroons in the year-on-year comparison. The trade deficit totaled 400 million kroons - more than four times greater than in April 2009.

The biggest share in Estonia’s exports was machinery and equipment, accounting for nearly a fifth of Estonia’s total exports, and mineral products (15 per cent). In the year-on-year comparison, the biggest increase took place in exports of mineral products (including motor spirits, fuel oils and electricity), up by 900 million kroons. The turnover in exports of metals and products thereof increased by 60 percent, or by 400 million kroons.

The biggest share in imports in April was also with machinery and equipment, at 20 percent of total imports, and in imports of mineral products (16 per cent). The import turnover rose in all commodity sectors in April in the year-on-year comparison. The increase was the biggest in the import of metals and related products, and in machinery and equipment (by 400 million kroons each).

The main countries of destination of exports were Finland (18 percent), Sweden (14 percent), Russia and Latvia. Electrical machinery and equipment accounted for the biggest share of exports to Finland and Sweden, vehicles and accessories thereof to Latvia, and paints and lacquers to Russia.

The main countries of origin of imports to Estonia were Finland (accounting for 16 percent of all imports), Latvia (13 percent) and Germany. Electrical machinery accounted for the biggest share of imports from Finland, fuels from Latvia and iron and steel from Germany.