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Estonia Trade Deficit Narrows In March

Estonia's trade deficit narrowed in March amid solid gains in both exports and imports, figures from Statistics Estonia showed on Tuesday.

The trade deficit decreased to EUR 191 million in March from EUR 298 million in February. In the same month last year, the trade deficit was EUR 188 million.

Exports increased 35.0 percent yearly in March, following a 19.0 percent rise in February.

Imports rose 31.0 percent annually in March, after a 35.0 percent increase in the previous month.

The main export partners are Finland, Latvia and Sweden, and the import partners are Finland, Lithuania and Germany.

In the first quarter, the trade deficit was EUR 647 million. Exports and imports grew by 30.0 percent and 34.0 percent, respectively.

Export prices rose 24 percent annually and import prices grew 27 percent, which has had a strong impact on trade turnover, Statistics Estonia analyst Evelin Puura said.

"In March as well as in the first quarter in general, trade was significantly influenced by the exports and imports of mineral fuels and electricity, wood and articles of wood, agricultural products and food preparations, and base metals and articles of base metal," Puura added.

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