FX.co ★ Estonia Trade Gap Narrows In November

In November, Estonia experienced a decline in its trade deficit compared to the same month the previous year, thanks to a rise in exports while imports remained relatively unchanged, according to data released by Statistics Estonia on Thursday.

The trade deficit narrowed to EUR 166 million in November, which is an improvement from EUR 219 million observed during the same period last year. This also reflects a positive change from the October deficit, which stood at EUR 303 million.

Exports increased by 3.0% year-over-year in November, building on a strong 12.0% surge in October. The most significant export categories for Estonian products in November included electrical equipment and wood products, as reported by the agency.

In contrast, imports remained stable compared to the levels recorded last year, following a 10.0% growth in the previous month.