OREANDA-NEWS. October 15, 2010. Estonian exports of goods at current prices grew by 37 percent and imports by 34 percent year-on-year in August, the statistics office reports.

The growth of the turnover of exports and imports was faster only in May this year.

In August exports of goods from Estonia amounted to 11.1 billion kroons (EUR 711 mln) and imports totaled 12.2 billion kroons. Year on year, exports increased by three billion kroons and imports by 3.1 billion kroons. Trade grew faster only in May this year when exports soared by 39 percent and imports by 46 percent on annual comparison.

The trade shortfall was 1.1 billion kroons, increasing slightly in comparison with August 2009.

Exports to European Union countries amounted to 7.5 billion kroons, accounting for 67 percent of total exports. Compared to the same month last year, exports to the EU grew by 36 percent. Exports to non-EU countries or the so-called third countries increased by 40 percent.

Imports from the EU totaled 10 billion kroons and made up 82 percent of all imports. On annual comparison imports surged from the EU surged by 38 percent. Imports from third countries grew by 19 percent.

The trade gap with the EU was 2.5 billion kroons whereas trade with third countries showed a surplus of 1.4 billion kroons.

Month on month, exports increased by 2 percent and imports by 6 percent in August.