Exports from Estonia to the Russian Federation are growing despite the sanctions

Exports from Estonia to the Russian Federation are growing despite the sanctions

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

ERR reports about this, as “European Truth” writes.

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

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

“Estonia’s economy is quite small. Export indicators fluctuate greatly from month to month. You should compare longer periods, for example, quarters. If you compare the first quarter of the current year with the fourth quarter of the previous year, it can be seen that the volume of exports from Estonia has not increased too much,” the head noted. Department of the Ministry of Foreign Affairs Tynis 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.

“Most of these are re-exports. 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 from there to Russia. Of all the goods sent to Russia, only 23% were made in Estonia.” , – said Leppmets.

To date, the European Union has adopted ten packages of sanctions due to Russia’s aggression against Ukraine. The “Big Seven” 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 trade with the aggressor country.

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

Export data for April are not ready yet, but the Department of Statistics assumes that Estonian sales to Russia are unlikely to fall.

We will remind, the Prime Minister of Estonia Kaia Kallas called for a complete ban on the transit of goods from the European Union through Russia amid fears that Moscow’s sharp increase in trade with third countries is helping it evade sanctions.

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