The trade deficit in Estonia increased to EUR 272 million in January 2023, from EUR 145 million in the same month a year ago. Exports declined by 9 percent year-on-year to EUR 1,491 million, mainly dragged down by mineral fuels (-55 percent) and raw materials & products of chemical industry (-31 percent). Finland was the main trading partner for Estonia’s exports (18 percent of total sales), followed by Latvia and Sweden (both 11 percent). Meanwhile, imports fell softer at 1 percent year-on-year to EUR 1,763 million, boosted by mineral fuels (-44 percent) and wood & articles of wood (-36 percent). The top partner countries for Estonia’s import were Finland (14 percent total imports), Latvia (11 percent), and Germany (11 percent). source: Statistics Estonia

Balance of Trade in Estonia averaged -125.10 EUR Million from 1993 until 2023, reaching an all time high of 26.99 EUR Million in October of 2020 and a record low of -523.44 EUR Million in April of 2022. This page provides - Estonia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Estonia Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

Balance of Trade in Estonia is expected to be -200.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Estonia Balance of Trade is projected to trend around -250.00 EUR Million in 2024, according to our econometric models.

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Estonia Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2023-02-09 06:00 AM Dec €-205M €-368M €-110M
2023-03-13 06:00 AM Jan €-272M €-205M €-180.0M
2023-04-10 05:00 AM Feb €-272M


Related Last Previous Unit Reference
Balance of Trade -272.00 -205.00 EUR Million Jan 2023
Imports 1763.00 1868.00 EUR Million Jan 2023
Exports 1491.00 1664.00 EUR Million Jan 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
-272.00 -205.00 26.99 -523.44 1993 - 2023 EUR Million Monthly

News Stream
Estonian Trade Gap Widens in January
The trade deficit in Estonia increased to EUR 272 million in January 2023, from EUR 145 million in the same month a year ago. Exports declined by 9 percent year-on-year to EUR 1,491 million, mainly dragged down by mineral fuels (-55 percent) and raw materials & products of chemical industry (-31 percent). Finland was the main trading partner for Estonia’s exports (18 percent of total sales), followed by Latvia and Sweden (both 11 percent). Meanwhile, imports fell softer at 1 percent year-on-year to EUR 1,763 million, boosted by mineral fuels (-44 percent) and wood & articles of wood (-36 percent). The top partner countries for Estonia’s import were Finland (14 percent total imports), Latvia (11 percent), and Germany (11 percent).
2023-03-13
Estonian Trade Deficit Widens in December
Estonia’s trade deficit increased to EUR 205 million in December of 2022 from EUR 206 million in the same month a year earlier, with exports and imports showing no growth. Imports stalled at EUR 1,869 million, largely boosted by mineral fuels and electricity, electrical equipment, and agricultural products and food preparations. The main partner countries for Estonia’s imports of goods were Finland (16% of total exports), Lithuania (10%), and Germany (10%). At the same time, exports showed no growth at EUR 1,664 million, driven by mineral fuels and electricity, electrical equipment, agricultural products, and food preparations. The main destinations for exports were Finland (15% of total sales), Latvia (14%), and Sweden (9%). Considering 2022 full year, the trade gap widened to EUR 3.3 billion from EUR 1.8 billion in 2021.
2023-02-09
Estonian Posts Largest Trade Gap in 7 Months
Estonia’s trade deficit widened to EUR 352 million in November of 2022, from EUR 132.5 million in the same month a year earlier, pointing to the largest trade gap since April. Exports remained at the level of previous year to EUR 1,744 million, boosted by natural gas, communication equipment and prefabricated wooden buildings. The top partner countries for Estonia’s exports were Finland (17 percent of total exports), Latvia (13 percent), and Sweden (10 percent). Meanwhile, imports rose by 12 percent to EUR 2,096 million, largely driven by electricity, motor fuels and natural gas. The main partner countries for Estonia’s imports of goods were Finland (17 percent), Lithuania (11 percent), and Latvia (11 percent). For the first eleven months of the year, the trade shortfall surged to EUR 3,042 million, from EUR 1,554 million in the same period of 2021.
2023-01-09