Analytics, Banks, Estonia, Financial Services

Turnover was up on September 2017 for both goods and services, though faster growth in imports meant the total surplus of goods and services shrank to 120 mln euros, the central bank said.

Goods exports increased by 1% and goods imports by 4%. The deficit on the goods account increased by 31 mln euros to 51 mln euros.

The surplus on the services account was the same as a year earlier at 171 mln euros. Services exports were up 3 % over the year and imports 4%. The net outflow of investment income and current transfers, or the primary and secondary income accounts, increased by 7 mln euros to 53 mln euros.

The current and capital accounts were in surplus by a total of 102 mln euros, meaning that the Estonian economy was a net lender to the rest of the world, so the country as a whole invested more financial assets abroad than it received from there.

The Bank of Estonia publishes the flash estimate of the balance of payments monthly for the last month but one.