Estonian exports, imports up

TALLINN — In another sign that Estonia’s economy has bottomed out, the amount of exports and imports in September increased 16 percent and 8 percent, respectively, from the previous month.

According to Estonia’s Department of Statistics the value of Estonian exports totalled 9.3 billion krooni (€594 million) in September, and imports to 10.2 billion krooni (€652 million) compared to 8 billion (€511 million) krooni in exports and 9.4 billion (€600 million) in imports in August. The increase is due to a strengthening in the country’s export markets. Germany returned to modest growth in the second quarter, while Finland, Sweden, Latvia and Lithuania’s gross domestic product declines abated.

The amount is still significantly down from last year. Compared to Sept. 2008, the total decrease is 24 percent in exports and 33 percent in imports. Estonia’s main export destinations in September 2009 were Finland at 18 percent, Latvia at 12 percent and Sweden at 12 percent.

The main import destinations were Finland, 14 percent; Russia, 11 percent, and Germany also 11 percent in total 10.2 billion krooni and is 33 percent lower as last year. Given the weak domestic demand, the increase in imports was less than exports.

The most popular export items were machinery and equipment with 1.7 billion krooni (€108 million), mineral products with 1.6 billion krooni (€102 million), and agricultural products and food preparations 928 million krooni (€59 million).

Most popular in import articles were mineral products with 2.1 billion krooni (€134 million), machinery and equipment 1.8 billion krooni (€115 million), and agricultural products and food preparations 1.2 billion krooni (€76 million), and has decreased by 33 percent compared to the same period last year.

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