Estonian exports up 38%

Estonia's exports increased by 38 per cent in May compared to the same month last year, official figures show.

According to the Baltic Course, the data, from Statistics Estonia, shows that exports of goods from the country amounted to 11.3 billion kroons (£602 million).

This was an increase of 3.1 billion kroons year-on-year, with machinery and equipment accounting for the biggest proportion.

Indeed, goods in these areas accounted for 19 per cent of Estonia's total exports in May, followed by mineral products, which made up 18 per cent.

Timber and timber products accounted for nine per cent, totalling 1.07 billion kroons – an increase of 46 per cent on May 2009.

Finland, Sweden and neighbouring Latvia were the biggest export destinations for Estonia during the month.

The figures come after it was revealed that industrial production in Estonia rose by 17 per cent on May compared to the same month last year.