Analytics, Banks, Estonia, Financial Services

International Internet Magazine. Baltic States news & analytics Tuesday, 20.08.2019, 19:34

Estonia's current account ran EUR 13 mln deficit in December

BC, Tallinn, 13.02.2019.Print version
A flash estimate published by the Bank of Estonia puts the Estonian current account at 13 mln euros in deficit in December 2018, informed Bank of Estonia,

The goods and services account was in balance. Exports of goods in the balance of payments were at the same level as a year earlier, while imports were up 3%. This meant that the negative balance in goods widened by 38 mln euros to 148 mln euros.

Services exports were up 2% over the year and imports 8% The positive balance on the services account was 148 mln euros, which was 22 mln euros less than a year previously. The net outflow of investment income and current transfers, or the primary and secondary income accounts, totaled 24 mln euros in December.

The surplus of 55 mln euros on the capital account helped balance the current account deficit, and so the current and capital accounts together were in surplus by 42 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.

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