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Estonian Trade Deficit Widens Sharply In February

Estonia's merchandise trade deficit increased significantly in February, data released by Statistics Estonia showed Wednesday.

The trade deficit climbed to EUR137.9 million in February from EUR51 million in the same month last year.

Export of goods climbed 16 percent on annual basis to EUR973.8 million in February. Month-on-month, the value of exports increased 3 percent.

Dispatches to the European Union countries rose 10 percent annually, while shipments to the Eurozone increased 4 percent. Shipments to Germany was higher by 20 percent compared to last year, while exports to the United States climbed 59 percent.

Imports advanced 25 percent year-on-year to EUR1.11 billion in February, driven mainly by an increase in arrivals of mineral fuels and transport equipment. Compared to the previous month, the value of imports rose 10 percent during the month.

by RTTNews Staff Writer

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