Foreign trade up over 40 percent on year to August in Estonia

Exports of goods rose by 46 percent on year to August 2021, state agency Statistics Estonia reports, while imports rose by almost as much, at 40 percent. This growth was significantly affected by trade in mineral fuels and timber, the agency says.

Evelin Puura, leading analyst at Statistics Estonia, said trade in mineral products was particularly influential, seeing a three-to-four-fold rise in imports and exports, on year.

She said: “In August, there was a significant rise in trade in mineral fuels and electrical energy. There was an increase in the processing of imported fuel oils and aviation fuels, but also in the imports of gasoline and diesel fuels and in electrical energy trade.”

Mineral fuels reprocessed in Estonia held the biggest share among mineral products in terms of both quantity and value, Puura added. “For example, various fuel oil preparations are imported and, by the addition of components, turned into fuels with different quality and purpose.”

Goods exports totaled €1.6 billion and imports €1.7 billion at current prices in August, the agency said. The trade deficit stood at €92 million, €22 million lower than in August 2020.

Read more: ERR.EE

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