The current account returned to surplus in April 2018

The flash estimate1 put the Estonian current account at 28 million euros in surplus in April 2018. The surplus on the goods and services account increased over the year earlier to 74 million euros. Goods exports were up by 15% over the year and imports by 12%, meaning the deficit on the goods account was 18 million euros narrower than in April 2017 at 85 million euros. Services exports were up by 6% and imports by 5%, meaning the surplus on the goods account widened by 9 million euros to 159 million euros. The net outflow of investment income and current transfers, or the primary and secondary income accounts, increased by 15 million euros to 46 million euros.

The current and capital accounts were in surplus by a total of 56 million euros, meaning that the Estonian economy was once again 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 2018 on 6 September 2018.

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