The current account of the Estonian balance of payments was again in surplus in November 2015

The flash estimate1 put the Estonian current account at 42 million euros in surplus in November 2015. The deficit on the goods account was larger than that in November 2014, and the surplus on the services account was smaller. Exports of goods and services contracted over the year, but imports increased slightly. The reduction in services exports was driven by lower sales of transport and travel services, while the growth in imports of services came mainly from visits abroad by Estonian residents. Towards the end of the year there was more active use of investment and other support from European Union funds.

Eesti Pank is publishing the flash estimate of the balance of payments monthly for the last month but one. Eesti Pank will publish the balance of payments for 2015 on 10 March 2016 at 08.00.

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 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.


Additional information:
Sünne Korasteljov
Eesti Pank Statistics Department
Telephone: +372 668 0906
Email: synne.korasteljov [at] eestipank.ee