Both exports and imports of services increased in November
The flash estimate1 put the Estonian current account at 93 million euros in surplus in November 2019. The surplus on the goods and services account increased by 11 million euros from a year earlier to 146 million euros. Exports of goods were down by 3% over the year and imports by 4%, and the balance on the goods account was zero. Services exports grew 4% and imports by 5%. The surplus on the services account was the same as a year earlier at 146 million euros. The negative balance on the primary and secondary income accounts totalled 53 million euros, which was the same as a year earlier. Net lending and borrowing, or the net total of the current and capital accounts, saw a surplus of 129 million euros in November.
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 fourth quarter of 2019 on 10 March 2020.
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.
Eesti Pank Statistics Department