Estonia Balance of Trade

Estonia's trade deficit narrowed to EUR 104.7 million in May 2019 from EUR 167 million in the same month last year. This was the smallest trade gap since February, as exports rose more than imports. Imports increased 3 percent to EUR 1.44 billion, mainly boosted by purchases of mechanical machinery (15 pct); metal & metal products (13 pct); agricultural products & food (10pct) and raw materials & products of chemical industry (19 pct). Imports rose mostly from Finland (1 pct); Germany (5 pct); Sweden (11 pct) and Lithuania (11 pct). Exports went up 8 percent to EUR 1.34 billion, led by electrical equipment (1 pct); minerals products (5 pct); miscellaneous manufactured articles (27 pct) and mechanical appliances (22 pct). Among major trading partners, exports grew mainly to Finland (6 pct); Sweden (1 pct) and the US (28 pct).

Estonia's trade deficit widened to EUR 156.1 million in April 2019 from EUR 145.4 million in the same month last year. Imports increased 4 percent to EUR 1.40 billion, mainly boosted by purchases of transport equipment (11 pct); raw materials and products of chemical industry (14 pct); transport equipment (11 pct), and basic metals and articles of base metal (9 pct). Imports rose mostly from Sweden (42 pct); Russia (38 pct), and Lithuania (21 pct). Exports went up 4 percent to EUR 1.24 billion, led by agricultural products and food preparations (14 pct); wood and articles of wood (5 pct); mechanical appliances (5 pct), and electrical equipment (4 pct). Among major trading partners, exports grew the most to Australia (378.4 pct); the Netherlands (67 pct), and the US (44 pct). Considering the first four months of the year, the trade balance recorded a deficit of EUR 530 billion, compared with a deficit of EUR 645 billion in the same period of 2018.

Estonia's trade deficit narrowed to EUR 177 million in March 2019 from EUR 199.2 million in the same month last year. Imports increased 5 percent to EUR 1.41 billion, mainly boosted by purchases of metal and articles of base metal (16 pct); raw materials and products of chemical industry (11 pct); transport equipment (10 pct), and textiles and textile articles (9 pct). Imports rose mostly from, Finland (19 pct); Latvia (17 pct), and Sweden (14 pct). Exports went up at a faster 8 percent to EUR 1.23 billion, led by base metals and articles of base metal (28 pct); agricultural products and food preparations (15 pct), and mineral products (8 pct). Among major trading partners, exports grew the most to the US (142.2 pct); Belgium (125.7 pct), and Denmark (71 pct). Considering the first three months of the year, the trade balance recorded a deficit of EUR 392 billion, compared with a deficit of EUR 500 billion in the same period of 2018.

Estonia's trade deficit widened to EUR 94.8 million in February 2019 from EUR 82.8 million in the same month last year. Imports increased 5 percent to EUR 1.26 billion, mainly boosted by purchases of raw materials and products of chemical industry (17 pct); textiles and textile articles (10 pct); transport equipment (7 pct), and electrical equipment (4 pct). Imports rose mostly from, Sweden (12 pct); Lithuania (11 pct); Russia (8 pct); Germany (4 pct), and Latvia (2 pct). Exports went up at a softer 4 percent to EUR 1.16 billion, led by wood and articles woods (17 pct); miscellaneous manufactured articles (15 pct), mechanical appliances (12 pct), and electrical equipment (5 pct). Among major trading partners, exports grew the most to the US (159.3 pct); Turkey (104.2 pct), and the Netherlands (52 pct). Considering the first two months of the year, the trade balance recorded a deficit of EUR 220 billion, compared with a deficit of EUR 300.8 billion in the same period of 2018.

Estonia's trade deficit narrowed sharply to EUR 119 million in January 2019 from EUR 218 million in the same month last year. Imports increased 2 percent to EUR 1.28 billion, mainly boosted by purchases of mineral products (20 pct), raw materials (11 pct), rubber & plastic (6 pct), and wood and articles of wood (2 pct). Imports rose mostly from Lithuania (48 percent), Sweden (8 pct), and Latvia (3 pct). Exports went up at a faster 12 percent to EUR 1.16 billion, led by sales of mineral products (31 pct), mechanical appliances (24 pct), wood and articles woods (17 pct), and electrical equipment (15 pct). Among major trading partners, exports grew the most to Singapore (6,081.4 pct), the US (203.4 pct), Denmark (51 pct), Latvia (16 pct), Finland (9 pct).

Estonia's trade deficit widened to EUR 227 million in December 2018 from EUR 203.7 million in the same month last year. It was the largest trade gap since January 2017, as exports rose less than imports. Imports increased 7 percent to EUR 1.29 billion, mainly boosted by purchases of mineral products (71 pct), wood and articles of wood (16 pct), mechanical appliance (14 pct), and base metals and articles of base metal (13 pct). Imports rose mostly from Russia (52 pct), Lithuania (14 percent), and Sweden (11 pct). Exports went up at a softer 6 percent to EUR 1.07 billion, led by sales of mineral products (71 pct), mechanical appliances (12 pct), and wood and articles woods (11 pct). Among major trading partners, exports grew the most to the US (137 pct), Latvia (17 pct), and Finland (10 pct). For 2018 full year, the trade deficit edged down to EUR 1.814 billion from EUR 1.884 billion in the same period of 2017.