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Export of services on the rise

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Estonia’s export of services has grown more quickly than the outflow of products, based on an analysis of 2012 export statistics.

According to the analysis published by Statistics Estonia, export of products grew 4% annually in 2012 while export of services grew 9%. While Estonia had a trade deficit in products (export smaller than import), services had a trade surplus in 2012.

More than half or 55% of Estonia’s 100 largest product exporters also sold services to foreign countries in 2012.
Out of Estonia’s total export volume, products make up three quarters, while services account for a quarter. The account of services is small because most of them are consumed locally. There are also language and other national barriers when it comes to selling services abroad.

Most or 67% of service exports are sold in European Union countries. Country-wise, Finland is on top (25% of all service exports), followed by Russia (11%) and Sweden (8%).

Source: Kerner, R. (2013) Kaupade ja teenuste eksport ning neis sisalduv kodumaine väärtus. Eesti Statistika Kvartalikiri. 3/13, 30. september.