TALLINN - Exports of goods at current prices for last year increased 35 percent, and imports 27 percent, compared to 2009, show data at Statistics Estonia, reports news agency LETA. In the last months of the year the growth in trade accelerated as dispatches and arrivals of machinery and equipment increased the most.
In 2010 the value of exports of goods from Estonia totaled 8.7 billion euros, and imports to Estonia amounted to 9.2 billion euros. The trade deficit therefore was announced at 500 million euros, which was smaller than in the previous year (the trade deficit was 0.8 billion euros in 2009). In 2010, commodity exports were led by machinery and equipment (23 percent of Estonia’s total exports), followed by mineral products (16 percent) and agricultural products and food preparations (10 percent). Compared to 2009, there was a significant increase in exports of machinery and equipment (by 56 percent, or 700 million euros). There was also an increase in exports of mineral products (including petrol, fuel oils and electricity) and of wood and products thereof.
In 2010, for imports, first place was also held by machinery and equipment (24 percent of the total imports), followed by mineral products (17 percent) and agricultural products and food preparations (11 percent). The turnover of imports increased among all commodity sections, the most in the imports of machinery and equipment (by 55 percent, or 800 million euros) and of metals and products thereof (by 300 million euros).
The main countries of destination were Finland (17 percent of Estonia’s total exports), Sweden (16 percent) and Russia (10 percent). Exports increased to all main countries of destination, the most to Sweden and Finland (by 600 and 300 million euros, respectively).
The main countries of consignment were Finland (15 percent of Estonia’s total imports), Germany and Sweden (11 percent for both countries). In 2010, imports increased the most from Sweden (by 400 million euros), Finland and Germany (by 300 million euros from both countries). The biggest trade deficit was mentioned in the trade of raw materials and chemical products (300 million euros). The biggest surplus was mentioned in the trade of wood and products thereof and miscellaneous industrial goods (including furniture) at 500 million euros for both.
In December 2010, the value of exports of goods was 927 million euros and of imports 934 million euros. Exports increased by 67 percent and imports 44 percent, compared to December 2009. The growth in exports was mainly influenced by the dispatches of machinery and equipment, as well as transport equipment (including railway stock).