Estonia Sees Record Growth in Foreign Trade in 2011
9 February (BNS)
Goods to the tune of 12 billion euros were exported from Estonia in current prices and imports to the country totalled 12.6 billion euros, Statistics Estonia said. The annual growth in trade was of a record amount, with the export growing by 38% and import by 37%.
In December 2011, goods to the tune of 948 million euros were exported from the country while imports totalled 990 million euros. Compared with December 2010, export grew 2% and import 6%. But in comparison with November 2011 export contracted 12% and import 10%. The fall on month was mainly due to the contraction of metals and metal products in the exports, and in the imports due to the contraction of the import of chemical industry raw materials as well as metals and metal product.
During the year export of machines and equipment was the biggest group, accounting for 27% of the total Estonian export. During the year machines and equipment also accounted for the biggest share of the imports that accounted for 27% of Estonia's total imports. The main countries where goods were exported from Estonia were Sweden, Finland and Russia, accounting respectively for 16, 15 and 11% of the export. The biggest amounts of imports were from Finland (13% of total Estonian imports) and from Latvia and Sweden (11% from both the countries).
In 2011 the Estonian foreign trade shortfall was 0.6 billion euros compared with 0.5 billion euros in 2010.
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