International Internet Magazine. Baltic States news & analytics
Monday, 03.08.2015, 16:07
The European Union seasonally adjusted external current account recorded a surplus of EUR 13.0 billion in May 2015, compared with a surplus of EUR 11.9 billion in April 2015 and a surplus of EUR 4.8 billion in May 2014, said Eurostat, the statistical office of the European Union, cites LETA/ELTA.
Keyword tags: Analytics, EU – Baltic States, Financial Services, Foreign trade
The first estimate for euro area exports of goods to the rest of the world in May 2015 was EUR 164.4 billion, an increase of 3% compared with May 2014 (EUR 160.2 bln). Imports from the rest of the world stood at EUR 145.6 bln, nearly stable compared with May 2014 (EUR 145.5 bln). As a result, the euro area recorded a EUR 18.8 bln surplus in trade in goods with the rest of the world in May 2015, compared with +EUR 14.7 bln in May 2014, informs LETA/ELTA.
The flash estimate put the Estonian current account at 52 million euros in surplus in May 2015 as Estonia's activity in foreign markets has reduced over the past few months, Estonia's central bank Eesti Pank said, cites LETA.
The build-up of the EUR 260.4 million deficit on the current account balance (CAB) in Lithuania's balance of payments for May 2015 was driven by the deficits on the balances of foreign trade (EUR 208.5 million) and primary income (EUR 175.9 million), the Bank of Lithuania reports LETA/ELTA.
Statistics Lithuania informs that, based on non-final data obtained from customs declarations, Intrastat reporting and VAT returns data, exports in May 2015 amounted to EUR 2 billion, imports – EUR 2.2 billion. Exports of goods of Lithuanian origin amounted to EUR 1.1 billion. The foreign trade deficit of Lithuania amounted to EUR 0.2 billion.
Provisional data of the Central Statistical Bureau (CSB) show that in May 2015 as compared to April exports value of goods at current prices dropped by 11.7%, and imports value of goods – by 7.2%.
According to Statistics Estonia, in May 2015, exports of goods decreased by 6% and imports decreased by 10% compared to May of the previous year. The biggest decrease occurred in the exports and imports of agricultural products and food preparations, mechanical appliances and mineral products.