FX.co ★ Estonia Trade Deficit Falls to Five-Month Low

Estonia’s trade deficit narrowed to EUR 269 million in September, down from EUR 308 million a year earlier and marking the smallest gap since May, as export growth outpaced imports. Exports rose 12% year-on-year to EUR 1,780 million, supported by higher shipments to both EU countries (+8%) and non-EU markets (+26%). Strong increases were seen in exports of mineral products (+82%), base metals and articles of base metals (+27%), electrical equipment (+20%), and optical, measuring, and precision instruments (+33%).

Imports increased 8% to EUR 2,049 million, reflecting larger purchases from both EU partners (+6%) and non-EU countries (+23%). The most notable gains were in imports of raw materials and products of the chemical industry (+22%), articles of rubber and plastics (+11%), and wood and articles of wood (+3%).

Over the January–September period, Estonia posted a trade deficit of EUR 3,119 million, up from EUR 2,869 million in the same period a year earlier.