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Estonia's Exports Fall For First Time In 7 Months

Estonia's exports dropped 5 percent in December from a year ago, marking the first decline in seven months, Statistics Estonia said Monday. That follows a 9 percent rise in November.

At the same time, annual growth in imports increased to 9 percent from 2 percent a month ago. As a result, the trade balance showed a shortfall of EUR 194.6 million compared to a surplus of EUR 24 million in the prior month.

In December, exports decreased 23 percent and imports fell by 5 percent compared to November.

In 2012, exports of goods increased 4 percent and imports grew 9 percent compared to 2011. The statistical office said, the annual growth of exports and imports was slower than in the previous year when both exports and imports grew by 37 percent.

Estonia's trade deficit amounted to EUR 1.2 billion, which was two times bigger than in 2011 when the trade deficit was EUR 0.66 billion.

by RTTNews Staff Writer

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