Estonian exports hit a new record in Q3 2012


According to the Statistics Office, Estonian exports grew by 8% in Q3, breaking a quarterly record of 3.3 billion euros.

The Ministry of Economic Affairs and Communications noted that the Estonian export sector has been able to grow its volumes despite weak economies worldwide.

The export growth has been supported by Estonia’s main export partners – Sweden, Russia, Latvia and Lithuania – whose economic situation is better than the general worldwide situation.

Sector-wise, the annual growth in sales of mineral oils (30%) and of machinery and equipment (10%) supported Estonia’s export growth the most. The ministry also mentioned the importance of mobile communications equipment sales in the equipment subsector.

The major sectors to experience decline were the export of metals and metal products as well as wood and wood products, both due to a fall in foreign demand.