FX.co ★ Estonia Trade Deficit Narrows Slightly in July

Estonia’s trade deficit narrowed slightly to EUR 430 million in July 2026, down from EUR 444 million in July 2025. On an annual basis, exports rose by 3% to EUR 1,457 million, driven by a 13% increase in shipments to non-EU countries, while exports to EU member states were unchanged.

Export growth was primarily supported by higher sales of optical, measuring, and precision instruments (+15%); machinery and mechanical appliances (+13%); raw materials and products of the chemical industry (+13%); and miscellaneous manufactured articles (+11%).

Imports increased by 2% to EUR 1,886 million, reflecting a 3% rise in purchases from EU countries and a 4% increase from non-EU countries. The main contributors to import growth were wood and articles of wood (+17%); optical, measuring, and precision instruments (+13%); base metals and articles of base metals (+12%); and raw materials and products of the chemical industry (+10%).

Over the period January–July, Estonia posted a trade deficit of EUR 2,324 million, compared with EUR 2,351 million in the same period of 2025.