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Financial News: Estonia Trade Deficit Widens In May

Estonia Trade Deficit Widens In May

07/11/2022 - 05:50:00 (RTTNews)

(RTTNews) - Estonia's trade deficit widened in May as imports rose more than exports, figures from Statistics Estonia showed on Monday.

The trade deficit increased to EUR 265 million in May from EUR 177 million in the same month last year. In April, the trade deficit was EUR 538 million.

Exports increased 31.0 percent yearly in May, following a 5.0 percent rise in April.

Imports rose 33.0 percent annually in May, following a 31.0 percent increase in the previous month.

The main export partners were Finland, Latvia and Sweden, and the import partners were Finland, Lithuania and Germany.

"The decline in trade with Russia is due to the gradual entry into force of sanctions related to the war in Ukraine," Statistics Estonia analyst Evelin Puura said.

"Exports of electrical equipment to the US have decreased significantly."

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