Analytics, Estonia, Financial Services

The surplus on the goods and services account was 5 mln euros, which was 10 mln euros less than a year earlier. The growth in the trade of goods was notable, as goods exports increased by 10% and imports by 12%, meaning the deficit on the goods account widened by 15 million euros to 90 mln euros. The surplus on the services account was 96 mln euros, which was 10 mln euros more than a year earlier. Exports of services increased by 12% and imports by 13%. The net outflow on the primary and secondary income accounts was at the same level as a year before and totalled 42 mln euros.

The current and capital accounts were in deficit by a total of 20 mln euros in March, meaning Estonia was a net borrower from the rest of the world.

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 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.