Estonia: Exports down 15%, imports down 13% in May 2023: statistics

Estonia’s exports of goods totalled EUR 1.6bn at current prices in May 2023, which was down 15% from the same period of 2022, according to data from Statistics Estonia, ERR reports. Exports of goods of Estonian origin fell by 21% and accounted for 65% (69%) of total exports. Overall imports totalled EUR 1.9bn, which was down 13% over a year. Estonia’s foreign trade deficit thus amounted to EUR 309mn, which was EUR 12mn more than in May 2022. Exports from EU countries declined by 6% and imports by 5%, while exports to non-EU countries dropped by 33% and imports by 38%. Estonia’s main export markets were Finland (15%), Latvia (13%), and Sweden (10%), while the biggest importers were Finland (16%), Germany (12%), and Latvia (10%).