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Financial News: Estonia Trade Balance Swings To Surplus

Estonia Trade Balance Swings To Surplus

11/09/2020 - 03:35:00 (RTTNews)

(RTTNews) - Estonia's trade balance swung to surplus in September as exports rose and imports declined, figures from Statistics Estonia showed on Monday.

The trade balance registered a surplus of EUR 4 million in September versus a deficit of EUR 169 million in the same month last year. In August, the trade deficit was EUR 117 million.

Exports rose 11.0 year-on-year in September, after a 6.0 percent decline in August.

Imports decreased 4.0 percent yearly in September, same as seen in the previous month.

In the third quarter, the trade deficit decreased to EUR 238 million from EUR 468 million in the last year.

Exports rose 1.0 percent yearly in the third quarter and imports fell 5.0 percent.

"In September, export turnover was the highest of this year, which had a positive impact on the whole quarter," Evelin Puura, an analyst at Statistics Estonia, said.

"The main contributors to the growth in exports were electronics industry with communications equipment and agricultural sector with dispatches of cereals," Puura added.

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