The current account of the Estonian balance of payments was in surplus in October
The flash estimate1 put the Estonian current account at 29 million euros in surplus in October 2015. The deficit on the goods account narrowed as imports fell faster than exports. Exports and imports of services also shrank, as turnover of travel services increased slightly but the figures for transport services and all other types of services were down. Investment income was less than a year earlier, reflecting lower profits and low interest rates. Payments to the European Union budget were larger than a year ago, but investment and other support from the European Union Structural Funds increased.
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.
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.
Eesti Pank Statistics Department
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