Estonia’s trade deficit widened to EUR 352 million in November of 2022, from EUR 132.5 million in the same month a year earlier, pointing to the largest trade gap since April. Exports remained at the level of previous year to EUR 1,744 million, boosted by natural gas, communication equipment and prefabricated wooden buildings. The top partner countries for Estonia’s exports were Finland (17 percent of total exports), Latvia (13 percent), and Sweden (10 percent). Meanwhile, imports rose by 12 percent to EUR 2,096 million, largely driven by electricity, motor fuels and natural gas. The main partner countries for Estonia’s imports of goods were Finland (17 percent), Lithuania (11 percent), and Latvia (11 percent). For the first eleven months of the year, the trade shortfall surged to EUR 3,042 million, from EUR 1,554 million in the same period of 2021. source: Statistics Estonia

Balance of Trade in Estonia averaged -124.46 EUR Million from 1993 until 2022, reaching an all time high of 26.99 EUR Million in October of 2020 and a record low of -523.44 EUR Million in April of 2022. This page provides - Estonia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Estonia Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.

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Estonia Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-12-09 06:00 AM Oct €-238M €-152M €-210M
2023-01-09 06:00 AM Nov €-352M €-239.7M €-220M
2023-02-09 06:00 AM Dec €-352M €-110M


Related Last Previous Unit Reference
Balance of Trade -352.15 -239.72 EUR Million Nov 2022
Imports 2095.89 2092.88 EUR Million Nov 2022
Exports 1743.74 1853.16 EUR Million Nov 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
-352.15 -239.72 26.99 -523.44 1993 - 2022 EUR Million Monthly

News Stream
Estonian Posts Largest Trade Gap in 7 Months
Estonia’s trade deficit widened to EUR 352 million in November of 2022, from EUR 132.5 million in the same month a year earlier, pointing to the largest trade gap since April. Exports remained at the level of previous year to EUR 1,744 million, boosted by natural gas, communication equipment and prefabricated wooden buildings. The top partner countries for Estonia’s exports were Finland (17 percent of total exports), Latvia (13 percent), and Sweden (10 percent). Meanwhile, imports rose by 12 percent to EUR 2,096 million, largely driven by electricity, motor fuels and natural gas. The main partner countries for Estonia’s imports of goods were Finland (17 percent), Lithuania (11 percent), and Latvia (11 percent). For the first eleven months of the year, the trade shortfall surged to EUR 3,042 million, from EUR 1,554 million in the same period of 2021.
2023-01-09
Estonian Trade Gap Widens in October
The trade deficit in Estonia increased to EUR 238 million in October 2022 from EUR 156 million in the same month a year earlier, as exports grew less than imports. Shipments rose 11% yoy to EUR 1,842 million, driven by agricultural products and food preparations, and mechanical appliances. Finland was the main trading partner for Estonia’s exports ((15% of total sales), followed by Latvia (14%) and Sweden (9%). Meantime, imports increased at a faster 15% to EUR 2,080 million, boosted by motor fuels, natural gas, electricity, automobiles, and mechanical appliances. The top partner countries for Estonia’s imports were Finland (16% of total arrivals), Latvia (12%), and Lithuania (11%). Considering the January to October period, the trade shortfall jumped to EUR 2,662 million from EUR 1,421 million in the same period in 2021.
2022-12-09
Estonian Trade Deficit Doubles in September
The trade deficit in Estonia widened to EUR 155 million in September 2022, more than doubling from the EUR 63 million gap in the same month a year earlier. Imports grew by 19% to EUR 2,103 million, amid higher purchases of mineral products (32%), electrical equipment (30%), transport equipment (40%), and agricultural products & food preparations (38%). Among major partners, arrivals from Finland accounted for the biggest share at 17%, followed by Latvia and Germany, both at 11%. Meanwhile, exports rose by 14% to EUR 1,948 million, driven by increase of sales in mineral products (24%), transport equipment (40%), agricultural products & food preparations (31%), and machinery & mechanical appliances (41%). Of the top partners, exports to Latvia and Finland had the largest share at 16%, followed by Sweden (9%), USA (7%) and Lithuania (6%).
2022-11-09