TALLINN — Estonia’s imports and exports this year have decreased by around a third each comparing August 2009 to the year before, numbers from the Statistics Estonia released today show.

According to the preliminary data, in August 2009 exports of goods from Estonia amounted to 7.8 billion krooni (€498 million) at current prices and imports to Estonia comprised 9.3 billion krooni (€594 million).

Compared to August 2008, the value of exports of goods decreased by 30 percent or 3.4 billion krooni, and that of imports by 31 percent or 4.1 billion kroons. The decline, however, was partly caused by high comparative base indicators of the previous year, the statistics agency said.

Trade has dropped sharply over the last year. Source: Statistics Estonia

The foreign trade deficit has started to decrease significantly since January this year.

The foreign trade deficit has also dropped by the same rate, with exports to European Union countries decreasing 31 percent. Exports to non-EU countries fell 28 percent during the last year.

Compared to July 2009, exports of goods decreased by 5 percent and imports by 3 percent.

In August, imports from EU-27 countries to Estonia totaled 7.2 billion krooni equaling a share of 77 percent of the country’s total imports.

Imports from non-EU countries decreased by 26 percent compared to 2008.