Estonia’s exports grow by 3% in November 2024

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Photo Visit Estonia / Renee Altrov

In November 2024, Estonia’s exports of goods grew by 3 per cent year-on-year, reaching nearly 1.6 billion euros, while imports remained stable at 1.7 billion euros, according to Statistics Estonia. The trade deficit narrowed to 166 million euros, a 53 million euro decrease from the previous year.

Jane Leppmets, a foreign trade analyst at Statistics Estonia, highlighted the growth in exports of domestic goods, which rose by 6 per cent. “The share of goods of Estonian origin in total exports was up by two percentage points in November, accounting for 66 per cent. The groups of goods of Estonian origin with the largest exports in November were electrical equipment and wood and articles of wood,” Leppmets stated.

Electrical equipment led the exports, followed by agricultural products and wood. The United States saw the largest increase in exports, up by 23 million euros, driven by higher electrical equipment sales. Conversely, exports to Singapore dropped by 30 million euros, primarily due to reduced mineral product exports.

On the import side, transport equipment topped the list, with significant year-on-year increases from Sweden, although imports from Lithuania fell due to a decline in mineral products.

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