Estonia's trade deficit widened to EUR 227 million in December 2018 from EUR 203.7 million in the same month last year. It was the largest trade gap since January 2017, as exports rose less than imports. Imports increased 7 percent to EUR 1.29 billion, mainly boosted by purchases of mineral products (71 pct), wood and articles of wood (16 pct), mechanical appliance (14 pct), and base metals and articles of base metal (13 pct). Imports rose mostly from Russia (52 pct), Lithuania (14 percent), and Sweden (11 pct). Exports went up at a softer 6 percent to EUR 1.07 billion, led by sales of mineral products (71 pct), mechanical appliances (12 pct), and wood and articles woods (11 pct). Among major trading partners, exports grew the most to the US (137 pct), Latvia (17 pct), and Finland (10 pct). For 2018 full year, the trade deficit edged down to EUR 1.814 billion from EUR 1.884 billion in the same period of 2017. Balance of Trade in Estonia averaged -119.55 EUR Million from 1993 until 2018, reaching an all time high of 16.52 EUR Million in February of 2010 and a record low of -411.75 EUR Million in January of 2017.

Balance of Trade in Estonia is expected to be -190.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Estonia to stand at -170.00 in 12 months time. In the long-term, the Estonia Balance of Trade is projected to trend around -70.00 EUR Million in 2020, according to our econometric models.

Estonia Balance of Trade
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-09 06:00 AM Balance of Trade €-76M €-165M € -70M
2018-12-10 06:00 AM Balance of Trade €-199M €-84M €-235M
2019-01-09 06:00 AM Balance of Trade €-56M €-192M €-95M
2019-02-11 06:00 AM Balance of Trade €-227M €-60M €-180M
2019-03-11 06:00 AM Balance of Trade €-227M €-280M
2019-04-09 05:00 AM Balance of Trade €-120M
2019-05-10 05:00 AM Balance of Trade €-190M

Estonia Trade Last Previous Highest Lowest Unit
Balance of Trade -226.70 -60.33 16.52 -411.75 EUR Million [+]
Current Account 77.00 117.80 276.70 -751.70 EUR Million [+]
Current Account to GDP 3.20 2.00 3.20 -15.00 percent [+]
Imports 1291.67 1450.30 1552.82 30.63 EUR Million [+]
Exports 1064.97 1389.97 1389.97 32.11 EUR Million [+]
External Debt 19700.10 19847.90 19847.90 883.10 EUR Million [+]
Capital Flows 167.00 73.80 633.50 -641.70 EUR Million [+]
Foreign Direct Investment 348.80 905.90 1057.90 -437.50 EUR Million [+]
Remittances 76.70 71.30 111.80 1.70 EUR Million [+]
Gold Reserves 0.25 0.25 0.25 0.25 Tonnes [+]
Terrorism Index 0.23 0.46 1.10 0.00 [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category

Estonia Balance of Trade

In recent years Estonia’s exports grew significantly. The biggest share in Estonia’s exports are machinery and equipment (mainly wireless-network gear, wind generators), mineral products and agricultural products and food preparations. Main exports partners are Sweden, Finland, and Russia. Being a small state, Estonia has to import many goods. The biggest share in Estonia’s imports are machinery and equipment, mineral products and agricultural products and food preparations. Main import partners are Finland, Sweden and Germany. This page provides - Estonia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Estonia Balance of Trade - actual data, historical chart and calendar of releases - was last updated on February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-226.70 -60.33 16.52 -411.75 1993 - 2018 EUR Million Monthly

Country Last Previous
Argentina 1369.00 Dec/18
Australia 3681.00 Dec/18
Brazil 2190.00 Jan/19
Canada -2060.10 Nov/18
China 391.60 Jan/19
Euro Area 16990.70 Dec/18
France -4653.00 Dec/18
Germany 13900.00 Dec/18
India -14730.00 Jan/19
Indonesia -1159.50 Jan/19
Italy 3658.00 Dec/18
Japan -55.29 Dec/18
Mexico 1836.32 Dec/18
Netherlands 3572.00 Dec/18
Russia 18856.00 Dec/18
Saudi Arabia 184673.00 Sep/18
Singapore 1943.12 Dec/18
South Africa 17167.41 Dec/18
South Korea 1336.00 Jan/19
Spain -2568800.00 Nov/18
Switzerland 1787.14 Dec/18
Turkey -2674.41 Dec/18
United Kingdom -3229.00 Dec/18
United States -49313.00 Nov/18