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Estonia's Trade Deficit Narrows In October

Estonia's merchandise trade shortfall decreased in October from last year as imports contracted at a faster pace than exports, data released by Statistics Estonia revealed Tuesday.

Goods exports decreased 1 percent annually to EUR1.09 billion in October. In September, the country exported commodities worth EUR1.03 billion.

The fall in exports was mostly influenced by a 17 percent fall in shipments of agricultural goods and a 9 percent fall in dispatches of food products. These declines were partially offset by a 18 percent gain in dispatches of wood products and a 30 percent jump in shipments of transport equipment.

At the same time, the value of imports fell 6 percent year-on-year to EUR1.23 billion. The figure was, however, higher than EUR1.14 billion recorded in September.

Arrivals of electrical equipment decreased the most, by 36 percent in October, while arrivals of transport equipment increased 21 percent.

On a monthly basis, however, exports and imports recorded increases of 5 percent and 8 percent respectively during October, data showed.

by RTTNews Staff Writer

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