Estonian foreign trade sees strong growth in October

Text Ingel Kink
Photo Evelin Linholm

Estonia’s foreign trade showed significant growth in October 2024, with exports rising by 12 per cent and imports up by 10 per cent compared to October 2023. Exports reached nearly 1.7 billion euros, while imports totalled nearly 2 billion euros, resulting in a trade deficit of 303 million euros.

Exports of Estonian-origin goods performed especially well, increasing by 17 per cent. Wood, electrical equipment, and agricultural products were the top exported items, with the biggest growth in agricultural products and food preparations (up by 52 million euros), electrical equipment (up by 45 million euros), and wood products (up by 44 million euros).

Estonia’s main export partners in October were Finland, Latvia, Sweden, and Lithuania, with electrical equipment and wood being the most exported goods to these countries. Exports to the United States grew significantly, with electrical equipment exports nearly doubling.

Imports were primarily driven by transport equipment, electrical equipment, and agricultural products, with the largest increase in imports coming from Poland, where transport equipment saw the biggest rise.

Overall, October marked a strong month for Estonia’s foreign trade, with substantial growth in both exports and imports.

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Estonia foreign Trade Estonian Economy Exports Growth Imports Increase October 2024 Exports Statistics Estonia Trade Deficit