April was a good month for exports of both goods and services

The flash estimate1 put the Estonian current account at 33 million euros in surplus in April 2019. The surplus on the goods and services account was 81 million euros, which was 5 million euros less than a year earlier. Goods exports were up by 6% over the year and imports by 8%, meaning the deficit on the goods account widened by 27 million euros to 90 million euros. The exports of services grew 3%, whereas imports declined 2%. The surplus on the services account was 171 million euros, which was 21 million euros more than at the same time a year earlier. The net outflow of investment income and current transfers, or the primary and secondary income accounts, totalled 48 million euros in April.

The current and capital accounts were in surplus by a total of 63 million euros, meaning that the Estonian economy was a net lender to the rest of the world, so the country as a whole invested more financial assets abroad than it received from there.

 

1 The quarterly balance of payments is compiled from a combined system of representative primary data sources, including surveys of companies, while the monthly balance of payments draws from a considerably smaller database. Although the monthly report uses as much of the data available for the month reported as possible, including administrative data sources and reports on international payments, it is subjective to a certain degree, which is why it is called an estimate. Once the quarterly balance of payments is released, the monthly balances of payments are adjusted accordingly. For more on the principles used in compiling the flash estimate, see http://statistika.eestipank.ee/failid/mbo/kiir_mb_eng.html

Eesti Pank publishes the flash estimate of the balance of payments monthly for the last month but one. Eesti Pank will publish the balance of payments for the second quarter of 2019 on 10 September 2019.


Statistical releases are published by Eesti Pank together with statistical data. The release is independent of economic policy releases and is presented separately from them.

Additional information:
Eesti Pank Statistics Department
668 0906