Analytics, Banks, Budget, Estonia, Financial Services

The surplus on the goods and services account was 21 mln euros, smaller by 16 mln euros than in April 2016. Goods exports were down by 3% over the year and imports declined by 1%, as a result of which the deficit on the goods account widened by 22 mln euros to 109 mln euros.

One cause of the decline in foreign trade in April 2017 was that there were two fewer working days in that month than in April 2016. The surplus on the services account was 130 mln euros, 6 mln euros more than at the same month last year. Services exports grew by 8% and imports by 9%. The net outflow on the primary and secondary income accounts increased by 10 mln euros to 30 mln euros.

The current and capital accounts ran a surplus of 5 mln euros in April, meaning that Estonia was again a net lender to the rest of the world, the central bank said.