Estonia : Exports of textiles drop in March

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Exports of textiles drop in March

27
May '08

According to Statistics Estonia, in March 2008 compared to March a year ago the imports of goods decreased 10% and the exports increased 2%.

In March 2008 the exports of goods in nominal value were 10.6 billion kroons and the imports were 13.9 billion kroons. Compared to March of the previous year, the value of exports rose by 2% and imports fell by 10%.

The trade deficit was 3.3 billion kroons. Compared to March 2007, the trade deficit decreased by about 1.7 billion kroons — mainly caused by the fall of imports.

In the first quarter the exports of goods grew by 5% and imports fell by 4% compared to the first quarter of the previous year. The foreign trade deficit was 9.6 billion kroons (during the same period in 2007 the trade deficit was 12.6 billion kroons).

In March 2008 the share of the EU countries was 73% and the share of CIS countries accounted for 12% of the total exports (in the previous year 70% and 12%, respectively). Compared to the previous year, exports of goods to EU countries increased 7%, but to CIS countries decreased 4%. The main countries of destination were Finland, Sweden and Latvia.

In total imports the share of the EU countries was 81% and that of CIS countries 11% (in the previous year 76% and 16%, respectively). Imports from the EU countries decreased 3% and from CIS countries even 38% compared to March 2007.

The biggest decrease was in the imports from Russia and Finland (by 1 and 0.3 billion kroons, respectively). The most important partners in imports were Finland, Germany and Sweden.

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