The current account surplus in October was the same size as a year ago

The flash estimate[1] put the Estonian current account at 37 million euros in surplus in October 2016. The surplus on the goods and services account was around the same as a year earlier at 67 million euros. The growth of 2% in goods exports was slower than the 4% in imports, and this increased the deficit on the goods account to 92 million euros. The surplus on the services account was 160 million euros however, which was 23 million euros more than at the same time a year earlier. Services exports increased by 5% because of growth in travel services and other services, while imports of services were the same as a year before. The net outflow on the primary and secondary income accounts totalled 30 million euros, which was 7 million euros less than in the previous October.

The sum total of the current and capital accounts was 56 million euros in October. This means that the Estonian economy was a net lender to the rest of the world, so the country as a whole invested more resources abroad than it received from there.

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 2016 on 9 March 2017.

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


[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. For more on the principles used in compiling the flash estimate, see