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Present condition of Estonia trade
As of 2009 Estonia export, import and trade are in a condition that cannot be termed ideal by any yardstick. According to latest statistics Estonia import has dropped at a rate of 30 percent and Estonia export has dropped at a rate of 22 percent.
Estonia export, import and trade 2009
In March 2009 aggregate value of all goods and services exported by was EEK 8.3 billion as per recent prices. In accordance to latest prices aggregate value of goods and services imported by Estonia was EEK 10 billion. When seen in perspective against March 2008 there has been a rapid decrease. However, from February 2009 there has been an increase in both exports and imports.
From February 2009 Estonia export has increased at a rate of 5 percent and Estonia import has grown at 11 percent. A principal reason of this is fact that number of working days in March was in excess of those of February.
In March 2009 72 percent of exports made by Estonia were to countries, which are members of European Union. Combined worth of these goods and services was EEK 6 billion. As judged against March 2008 there was a decrease of EEK 1.9 billion in exports to European Union.
In March 2009 goods and services worth EEK 2.3 billion had been exported to erstwhile third world countries. There was a decrease of EEK 0.5 billion when compared to March 2008 in this case.
At that same time Estonia had imported goods and services worth EEK 7.7 billion from member countries of European Union. This amounted for 70 percent of aggregate imports of Estonia. There was a decrease of EEK 3.9 billion in this area as compared to March 2008.
In case of Estonia import from non members of European Union value of aggregate goods and services was EEK 2.2 billion. There was a decrease in this case of EEK 0.3 billion or 13 percent as compared to March 2008. All these statistics show that Estonia export, import and trade has not been doing pretty well of late.
Trade relations with Latvia
Estonia has been a major export and import partner of Latvia. In March 2009 Estonia had accounted for 13.3 of aggregate goods and services exported by Latvia. 6.8 percent of goods and services imported by Latvia were from Estonia.