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 RTT Staff Writer
For comments and feedback: email@example.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.