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Estonia's Trade Deficit Narrows Sharply In January

Estonia's merchandise trade shortfall declined significantly in January, data released by Statistics Estonia showed Tuesday.

The trade deficit fell sharply to EUR7.6 million in January from EUR205.5 million in December. In January 2012, the balance was a deficit of EUR33.9 million.

January's trade was influenced by the non-recurrent high-volume trade transactions with transport equipment, the agency said.

Export of goods increased 19 percent annually to EUR1.13 billion in January. The top destination countries of exports were Finland, followed by Sweden, Latvia and Russia. At the same time, exports to the Netherlands and USA decreased.

At the same time, the value of imports advanced 16 percent year-on-year to EUR1.14 billion during the month. The main countries of consignment were Finland, followed by Sweden and Germany. Imports were mostly influenced by the increase in the arrivals from Finland and Russia, data showed.

by RTT Staff Writer

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