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Financial News: Estonia Trade Deficit Narrows In March

Estonia Trade Deficit Narrows In March

05/11/2020 - 02:46:00 (RTTNews)

(RTTNews) - Estonia's trade deficit decreased in March amid a fall in exports and imports, figures from Statistics Estonia showed on Monday.

The trade deficit fell to EUR 150 million in March from EUR 166 million in the same month last year. In February, the trade deficit was EUR 130 million. Exports fell 1.0 percent year-on-year in March, following a 6.0 percent decrease in February.

Imports decreased 2.0 percent annually in March, the same rate of fall as seen in the previous month.

In the first quarter, the trade deficit was EUR 300 million compared to EUR 374 million in the same period last year. Exports and imports fell 3.0 percent and 4.0 percent, respectively.

The trade deficit decreased in the first quarter mostly due to declined exports and imports of electrical equipment and mineral products, the agency said.

"Imports dropped mainly because less electronic integrated circuits and passenger cars were imported," Evelin Puura, a leading analyst at Statistics Estonia said.

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