Analytics, Banks, Economics, Estonia, Financial Services, Statistics

The flash estimate put the Estonian current account at 65 mln euros in surplus in December 2016. The surplus on the goods and services account doubled over the year to 74 mln euros. The growth of 6% in goods exports at the end of the year was faster than the 5% in imports, so the deficit on the goods account narrowed to 112 mln euros.  

The surplus on the services account was 186 mln euros, which is 32 mln euros more than at the same time a year earlier. Services' exports increased by 11% because of growth in travel services and other services, while imports of services increased by only 6%. The net outflow on the primary and secondary income accounts totalled 9 mln euros.

The current and capital accounts were in surplus by a total of 58 mln euros in December. This means that the Estonian economy has been a net lender to the rest of the world for the past nine months.