According to Statistics Estonia, in September 2024, Estonia’s exports of goods increased by 2% and imports by 3% compared with September 2023. Exports of goods amounted to 1.5 billion and imports to 1.7 billion euros at current prices. 

Jane Leppmets, analyst at Statistics Estonia, said that exports of goods increased in September and in the third quarter overall. “Although re-exports fell by 1% in September, the rise in total exports was driven by the 4% increase in exports of goods of Estonian origin. The share of goods of Estonian origin in total exports grew by one percentage point year on year, reaching 64%” added Leppmets.

There was a significant rise in trade with non-EU countries. Exports to EU countries were down and imports from the EU were stable, but there was a 21% increase in exports to non-EU countries, and imports from non-EU countries rose by 25%.

The main commodities exported in September were electrical equipment (16% of Estonia’s total exports), agricultural products and food preparations (11%), and wood and articles of wood (11%). Compared with September last year, the biggest increase occurred in the exports of electrical equipment (up by 37 million euros) and agricultural products and food preparations (up by 25 million euros). The biggest fall was recorded in the exports of mineral products – down by 26 million euros.

Estonia’s top export partners in September were Finland (16% of total exports) and Latvia (12%). The main commodities exported were electrical equipment to Finland and mineral products to Latvia. The biggest rise was registered in exports to the USA (up by 34 million euros, or 90%), Singapore (up by 29 million euros, or 15 times) and Finland (up by 18 million euros, or 8%).

Compared with September last year, there were increased exports of electrical equipment to the USA and more dispatches of mineral products to Singapore and Finland. The greatest decline was recorded in exports of goods to Latvia (down by 35 million euros, or 16%), and the Netherlands (down by 30 million euros, or 38%).

Exports of goods amounted to 4.3 billion

The main commodities imported in September were electrical equipment (15% of Estonia’s total imports), transport equipment (14%), and agricultural products and food preparations (13%). Year on year, the biggest increases occurred in the imports of electrical equipment (up by 33 million euros), raw materials and products of chemical industry (up by 30 million euros) and transport equipment (up by 29 million euros). The imports of mineral products decreased the most, falling by 66 million euros.

In September, the top partner countries for Estonia’s imports of goods were Finland (13% of total imports), Latvia (11%) and Germany (11%). The main commodities imported were mineral products from Finland and Latvia and transport equipment from Germany. The biggest year-on-year increases were seen in imports of goods from Latvia (up by 29 million euros, or 18%) and Poland (up by 24 million euros, or 19%).

There were more arrivals of mineral products from Latvia and greater imports of transport equipment from Poland. The biggest fall occurred in imports of goods from Finland (down by 84 million euros, or 27%), as there were fewer arrivals of mineral products.

In the third quarter overall, exports of goods increased by 2% and imports of goods remained at the same level compared with the third quarter of 2023. Exports of goods amounted to 4.3 billion and imports to 5.1 billion euros at current prices. The trade deficit was 750 million euros – this is 96 million euros less than in the third quarter last year.

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