July 7, 2011

Estonia's dairy exports increase 22% in Q1

Estonia's exports of dairy products totalled EUR38.3 million (US$54.9 million) from January-March this year, rising 22% from the same period in 2010, according to a dairy market overview by the Estonian Institute of Economic Research.

Of the exported dairy products, 70% went into the EU. Exports to the EU grew by nearly 60% while export to third countries was up 22%.

Exports increased both as a result of a significant rise in export prices as well as increased quantities, the institute said.

Cheese was the top category of goods in dairy exports.

The list of export destinations was topped by Russia with 30%, followed by Lithuania, Finland and Latvia with 19%, 15%and 12% of Estonia's total daily exports, respectively.

The import turnover of dairy products in the first quarter was EUR10.3 million (US$14.8 million), marking an annual increase of 18%. Imports almost entirely came from other member states of the EU.