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Estonia February Trade Deficit Narrows Modestly

Estonia's merchandise trade deficit decreased modestly from last year in February, data released by Statistics Estonia showed Tuesday.

The trade shortfall decreased to EUR104.5 million in February from EUR109.6 million in the same month a year earlier.

Export of goods declined 2 percent year-on-year to EUR956.4 million, reversing the 19 percent increase seen in January. Month-on-month, shipments fell by 15 percent.

The value of imports dropped 3 percent annually to EUR1.06 billion during the month, following a 17 percent expansion in January. Compared to January, exports decreased by 7 percent.

The decrease in exports and imports was influenced by the significant decrease in the trade of mineral fuels, with overall shipments to the US posting the largest fall.

The top destination countries of Estonia's exports were Sweden, followed by Finland and Russia. The decrease in imports was mostly influenced by the decrease in arrivals from Lithuania and Germany.

by RTT Staff Writer

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