The current account of the Estonian balance of payments was in balance in September

The flash estimate1 put the Estonian current account balance at close to zero in September 2015. Exports and imports of goods and investment income were both down in September, while exports of services and other income increased at the same time. The total volume of credit and debit on the current account has been smaller than a year previously throughout this year, which indicates that activity has declined in the Estonian external economy.

Eesti Pank is publishing the flash estimate of the balance of payments monthly for the last month but one. The statistics on the third quarter of 2015 will be published with a comment on 9 December.

1 The quarterly balance of payments is compiled from a combined system of representative primary data sources, including surveys of companies, while the monthly balance of payments draws from a considerably smaller database. Although the monthly report uses as much data available for the month reported as possible, including administrative data sources and reports on international payments, it is subjective to a certain degree, which is why it is called an estimate. Once the quarterly balance of payments is released, the monthly balances of payments are adjusted accordingly.

See graph here

Source: Bank of Estonia

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