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Financial News: Estonia Trade Deficit Narrows In July

Estonia Trade Deficit Narrows In July

09/09/2020 - 06:18:00 (RTTNews)

(RTTNews) - Estonia's trade deficit narrowed in July as imports and exports declined, figures from Statistics Estonia showed on Wednesday.

The trade deficit fell to EUR 124 million in July from EUR 201 million in the same month last year. In June, the trade deficit was EUR 1.0 million.

Exports fell 1.0 year-on-year in July, after remaining unchanged in June.

Imports decreased 6.0 percent annually in July, following an 8.0 percent fall in the previous month.

"Growth in the exports of goods of Estonian origin was driven mainly by the exports of disinfection products and processed fuels," leading analyst at Statistics Estonia, Evelin Puura, said.

"The decline in imports was mostly the result of a continued fall in the imports of iron and steel as well as passenger cars and fuel," Puura added.

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