As of May 2021, exports had increased by 1.5 billion euros, 47 per cent year-on-year, and imports by 1.6 billion euros, an increase of 50 per cent.
“Export and import prices have also been affected as commodity prices continue to rise,” said Evelyn Pura, Estonia’s chief analyst.
It is also worth noting that the May 2020 reference base was at its lowest level, as exports and imports fell by a quarter compared to the previous year, ”he said, noting that growth was mainly driven by trade with countries outside the EU.
This includes a significant increase in mineral fuel imports from Russia and the export of electrical equipment to the United States
Finland, Russia and Germany were the major importing countries, while imports from Russia and Lithuania showed the largest increase, especially in fuel imports.
Finland, the United States and Sweden were the biggest turning points in Estonian exports, the first of which shows the largest increase in all beneficiary countries, mainly thanks to telecommunications equipment.
Fuel exports from Estonia to Denmark and the Netherlands also increased.
Imports of passenger cars from Germany increased.
The trade deficit in May 2021 was 175 million euros, an increase of 84 million euros compared to May 2020.
Statistics show that re-exports from Estonia increased by 42 percent, while exports of domestic goods increased by 48 percent.
Products of Estonian descent account for 71 percent of total exports.
There has been a tremendous increase in exports of Estonian descent with processed fuels, communications equipment, soft wood and prefabricated wooden buildings.
Mineral fuels (+ Euro 120 million), electrical equipment (+ Euro 93 million), transportation methods (+ Euro 51 million), timber and timber products were the main exports, compared to May 2020 to 2021.
Mineral fuels, electrical equipment, transportation systems, machinery and machinery are the basic materials imported into Estonia.
According to Estonia, imports of transport equipment increased the most (+98 million euros), followed by imports of mineral fuels (+78 million euros) and machinery and machinery (+62 million euros).