FX.co ★ Estonia Trade Gap Smallest in Nearly 2 Years

Estonia’s trade deficit narrowed to EUR 224 million in May 2026 from EUR 287 million a year earlier, marking the smallest gap since August 2024. On an annual basis, exports rose 9% to EUR 1,720 million, supported by increased shipments to both EU countries (+13%) and non-EU countries (+14%).

Export growth was mainly driven by mineral products (+64%), machinery and mechanical appliances (+25%), transport equipment (+6%), electrical equipment (+4%), and miscellaneous manufactured articles (+12%).

Imports grew 4% to EUR 1,945 million, reflecting higher purchases from EU countries (+9%) and non-EU countries (+8%). The rise in imports was led by mineral products (+38%), electrical equipment (+18%), machinery and mechanical appliances (+15%), transport equipment (+8%), and raw materials and products of the chemical industry (+9%).

Over the first five months of 2026, Estonia posted a cumulative trade deficit of EUR 1,512 million, compared with EUR 1,546 million in the same period of 2025.