Analytics, Banks, Estonia, Financial Services, Foreign trade

International Internet Magazine. Baltic States news & analytics Thursday, 02.07.2020, 12:02

Bank of Estonia: Both exports and imports of services increased in November

BC, Tallinn, 13.01.2020.Print version
The flash estimate1 put the Estonian current account at 93 million euros in surplus in November 2019. The surplus on the goods and services account increased by 11 million euros from a year earlier to 146 mln euros. Exports of goods were down by 3% over the year and imports by 4%, and the balance on the goods account was zero.

Services exports grew 4% and imports by 5%. The surplus on the services account was the same as a year earlier at 146 mln euros. The negative balance on the primary and secondary income accounts totalled 53 mln euros, which was the same as a year earlier. Net lending and borrowing, or the net total of the current and capital accounts, saw a surplus of 129 mln euros in November.

1 The quarterly balance of payments is compiled from a combined system of representative primary data sources, including surveys of companies, while the monthly balance of payments draws from a considerably smaller database. Although the monthly report uses as much of the data available for the month reported as possible, including administrative data sources and reports on international payments, it is subjective to a certain degree, which is why it is called an estimate. Once the quarterly balance of payments is released, the monthly balances of payments are adjusted accordingly. For more on the principles used in compiling the flash estimate, see

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