Financial News: Estonia Trade Gap Widens To EUR 206 Mln

Estonia Trade Gap Widens To EUR 206 Mln

05/10/2023 - 06:24:00 (RTTNews)

(RTTNews) - Estonia's trade deficit widened in March from last year, as exports fell faster than imports, figures from Statistics Estonia showed on Wednesday.

The trade deficit rose to EUR 206 million in March from EUR 186 million in the same month last year. In February, the trade deficit was EUR 114 million.

Exports declined 15.0 percent yearly in March, reversing a 1.0 percent rise in February.

Imports rose 12.0 percent annually in March, which was worse than the 8.0 percent fall in the prior month.

During the first quarter, both exports and imports registered a decline of 8.0 percent.

The quarterly trade deficit was EUR 577 million, which was 23 million euros less than in the first quarter of 2022.

"The indicators for March and the first quarter were significantly influenced by the decreased trade in mineral fuels, base metals and articles of base metal, and wood and articles of wood," Jane Leppmets, analyst at Statistics Estonia, said.

"There was an especially drastic decline in the imports of mineral fuels from Russia."

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