Exports from Estonia to Russia Increase by 17 Million Euros Despite Sanctions: Statistics Department Analysis

Despite ten packages of sanctions, exports from Estonia to Russia increased by 17 million euros in March compared to the same period last year.

About this, as he writes “European Truth”reports ERR.

“Comparing last March and this year, exports to Russia increased from 57 million euros to 74 million euros. 44% of exports are machinery and transport equipment: these are printing machines and centrifuges,” said Jane Leppmets, an analyst at the Statistics Department.

Leppmets explains that the growth is due to inflation; the quantity of goods remained approximately the same, but prices for it increased. The Ministry of Foreign Affairs says that Estonian export statistics should be considered for a longer period than one month.

“The Estonian economy is quite small. Export figures fluctuate greatly from month to month. Longer periods should be compared, for example, quarters. If we compare the first quarter of this year with the fourth quarter of last year, it can be seen that the volume of exports from Estonia has not grown too much,” he said. head of department at the Ministry of Foreign Affairs Thinis Nirk.

According to him, most of the exported products are goods from abroad. In March of this year, Estonian products accounted for only a quarter of all exports to Russia.

“This is mainly re-export. That is, we export goods of non-Estonian origin. In March, 77% of exports were foreign products that are brought to Estonia and then exported further to Russia. Of all the goods sent to Russia, only 23% were made in Estonia,” Leppmets said.

To date, the European Union has adopted ten packages of sanctions due to Russia’s aggression against Ukraine. The G7 countries also considered a complete ban on exports to Russia, but decided to refrain from this idea. But the Ministry of Foreign Affairs calls on Estonian businessmen to refuse to trade with the aggressor country.

“Estonia has always been a supporter of tough sanctions. We urge Estonian businesses to adhere to these tough sanctions. This is extremely important in order to make the war very costly for the aggressor,” Nirk explained.

Export data for April is not yet ready, but the Department of Statistics suggests that it is unlikely that Estonian sales to Russia will fall.

Recall, Estonian Prime Minister Kaja Kallas called for a complete ban on the transit of goods from the European Union via Russia amid fears that Moscow’s surge in trade with third countries is helping to evade sanctions.