FX.co ★ Estonia Trade Deficit Widens In February

Estonia's trade deficit widened in February as imports rose faster than exports, figures from Statistics Estonia showed on Monday.

The trade deficit increased to EUR 309.0 million in February from EUR 70.0 million in the same month last year. In January, the trade deficit was EUR 176 million.

"The bigger trade deficit was primarily due to trade in mineral fuels, where the value of imports grew significantly while exports remained at last year's level," Evelin Puura, leading analyst at Statistics Estonia, said.

Exports increased 18.0 percent yearly in February, after a 35.0 percent growth in January.

Imports rose 35.0 percent annually in February, after a 37.0 percent increase in the previous month.

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