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Export totals hit all-time high

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muuga_sadamTrade figures released by Statistics Estonia today show that the nation's exports reached 1.13 billion euros in September, the most ever seen in any one-month period.

Though the growth in exports from the previous month was slight - just over 5 million euros - a drop in imports from 1.23 billion euros in August to 1.16 billion euros in September pushed the trade deficit down to just 33 million euros, the lowest it has been this year.

In the year-on-year comparison, exports were up 3 percent, and imports 6 percent.

In September, machinery and equipment accounted for the largest share of Estonia’s total exports, 28 percent, followed by mineral fuels including electricity at 17 percent, and agricultural products and food preparations at 10 percent. It was growth in these first two categories, by 10 percent and 29 percent, respectively, that accounted for much of the growth since September of last year.

On the import side, the very same three categories came in first, second and third place for the month, accounting for 28 percent, 16 percent and 11 percent of the total, respectively.

The top destination countries for Estonia's exports in September were Sweden (16 percent), Finland (14 percent) and Russia (13 percent). Finland topped the list for countries of origin for imports, accounting for 15 percent, followed by Germany and Lithuania at 10 percent each.

Source: ERR News