Estonia recorded a trade deficit of 61 EUR Million in November of 2019. Balance of Trade in Estonia averaged -119.86 EUR Million from 1993 until 2019, reaching an all time high of 16.52 EUR Million in February of 2010 and a record low of -411.47 EUR Million in January of 2017. source: Statistics Estonia

Balance of Trade in Estonia is expected to be -160.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Estonia to stand at -130.00 in 12 months time. In the long-term, the Estonia Balance of Trade is projected to trend around -110.00 EUR Million in 2020, according to our econometric models.

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Estonia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-61.00 -174.31 16.52 -411.47 1993 - 2019 EUR Million Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-10-10 05:00 AM Aug €-99M €-201M €-235M
2019-11-11 06:00 AM Sep €-157M €-97M
2019-12-10 06:00 AM Oct €-184M €-157M €-150M
2020-01-09 06:00 AM Nov €-61M €-174M
2020-02-10 06:00 AM Dec €-61M € -110M


News Stream
2019-07-09
Estonian Posts Smallest Trade Gap in 3 Months
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).

2019-06-10
Estonian Trade Gap Widens in April
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.

2019-05-10
Estonia Trade Gap Narrows in March
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.

2019-04-09
Estonian Trade Deficit Widens in Febaruary
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.

2019-03-11
Estonian Trade Gap Narrows Sharply in January
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).

2019-02-11
Estonia Posts Largest Trade Gap in Near 2 Years
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.


Estonia Balance of Trade
In recent years Estonia’s exports grew significantly. The biggest share in Estonia’s exports are machinery and equipment (mainly wireless-network gear, wind generators), mineral products and agricultural products and food preparations. Main exports partners are Sweden, Finland, and Russia. Being a small state, Estonia has to import many goods. The biggest share in Estonia’s imports are machinery and equipment, mineral products and agricultural products and food preparations. Main import partners are Finland, Sweden and Germany.

Estonia Trade Last Previous Highest Lowest Unit
Balance of Trade -61.00 -174.31 16.52 -411.47 EUR Million [+]
Current Account 198.10 104.40 255.10 -751.70 EUR Million [+]
Current Account to GDP 1.70 3.20 3.20 -15.00 percent [+]
Imports 1305.43 1451.09 1551.21 30.63 EUR Million [+]
Exports 1244.43 1276.79 1387.96 32.11 EUR Million [+]
External Debt 21787.70 22044.90 22044.90 883.10 EUR Million [+]
Capital Flows 541.60 240.70 639.40 -641.70 EUR Million [+]
Foreign Direct Investment 16.60 1745.20 1745.20 -437.50 EUR Million [+]
Remittances 68.20 75.50 111.70 1.70 EUR Million [+]
Gold Reserves 0.25 0.25 0.25 0.25 Tonnes [+]
Terrorism Index 0.12 0.23 1.10 0.00 [+]