Trade up across Baltics

TALLINN — The import of machinery, transport equipment and metals bolstered the strong growth of Estonian foreign trade in June.

Statistics Estonia reported Tuesday that the smallest Baltic state’s export improved by 7 percent, and import by 22 percent compared to the same period last year.

The export reached up to 10.2 billion krooni (€651 million), and import up to 12 billion krooni (€764 million) at current prices. The trade deficit was 1.8 billion krooni (€113 million), which was seven times more than in June last year.

The biggest share in Estonia’s imports was machinery and equipment 22 percent of total imports, mineral products at 16 percent and agricultural products and food preparations at 11 percent, indicating the return of demand in the manufacturing sector.

In the first half of 2010, the export increased by 22 percent while import made a 20 percent jump. In Lithuania export and import both made 24 percent jump according to Statistics Lithuania. Latvia’s export rose by 23 percent, yet import’s rise was modest 8 percent according to the Central Statistical Bureau of Latvia.

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