Exports totaled more than €1.4 billion and imports nearly €1.9 billion, producing a trade deficit of €444 million — €76 million higher than a year earlier.

Foreign trade analyst Jane Leppmets said July's export growth was largely driven by re-exports, which jumped 26 percent, especially mineral products, including natural gas, and transport equipment.

Goods of Estonian origin fell 1 percent, accounting for 59 percent of total exports in July — down six percentage points on year. The decline reflected lower exports of mineral products, wood and other manufactured goods, compounded by lower oil and timber prices.

The top export commodities were electrical equipment (16 percent of total exports), agricultural products and food preparations (12 percent) and transport equipment (11 percent).

Mineral products saw the largest gain, up €42 million (49 percent), while wood exports dropped €16 million (12 percent).

Latvia was Estonia's top export partner that month, taking 15 percent of total exports, followed by Finland at 14 percent and Lithuania at 9 percent. Mineral products led exports to Latvia, electrical equipment to Finland and transport equipment to Lithuania.

Exports to Latvia increased by €62 million, while exports to Singapore and the U.S. fell €30 million and €15 million, respectively.

Finland leading import partner

On the import side, Finland led July with 14 percent of total imports, followed by Germany (11 percent), Lithuania (9 percent) and Latvia (9 percent). Major imports included electrical equipment (13 percent); agricultural products and food preparations (13 percent) and transport equipment (12 percent).

The biggest import increases on year were mineral products, up €67 million (49 percent), while transport equipment declined €27 million (11 percent).

Click here for more detailed info and figures from Statistics Estonia.

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