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Financial News: Estonia Trade Deficit Widens In July

Estonia Trade Deficit Widens In July

09/09/2022 - 04:18:00 (RTTNews)

(RTTNews) - Estonia's foreign trade deficit increased in July, as imports grew more rapidly than exports, figures from Statistics Estonia showed on Friday.

The trade deficit rose to EUR 349 million in July from EUR 171 million in the same month last year. In June, there was a shortfall of EUR 311 million.

Exports increased 13.0 percent yearly in July, well below the 26.0 percent surge in the previous month.

Imports climbed 22.0 percent from last year, following a 25.0 percent gain in June.

"The biggest increase was recorded in the imports and re-exports of mineral fuels, electricity and natural gas," Evelin Puura, leading analyst at Statistics Estonia, said.

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

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