Estonia’s activity in foreign markets increased in March

The flash estimate1 put the Estonian current account at 37 million euros in deficit in March 2017. All the components of the current account were up on the previous March, especially exports and imports of goods and services. The surplus on the goods and services account was 5 million euros, which was 10 million euros less than a year earlier. The growth in the trade of goods was notable, as goods exports increased by 10% and imports by 12%, meaning the deficit on the goods account widened by 15 million euros to 90 million euros. The surplus on the services account was 96 million euros, which was 10 million euros more than a year earlier. Exports of services increased by 12% and imports by 13%. The net outflow on the primary and secondary income accounts was at the same level as a year before and totalled 42 million euros.

The current and capital accounts were in deficit by a total of 20 million euros in March, meaning Estonia was a net borrower from the rest of the world.

Read more from Bank of Estonia website

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