The current account was slightly in deficit in December

The flash estimate1 put the Estonian current account at 13 million euros in deficit in December 2018. The goods and services account was in balance. Exports of goods in the balance of payments were at the same level as a year earlier, while imports were up 3%. This meant that the negative balance in goods widened by 38 million euros to 148 million euros. Services exports were up 2% over the year and imports 8%. The positive balance on the services account was 148 million euros, which was 22 million euros less than a year previously. The net outflow of investment income and current transfers, or the primary and secondary income accounts, totalled 24 million euros in December.

The surplus of 55 million euros on the capital account helped balance the current account deficit, and so the current and capital accounts together were in surplus by 42 million euros, meaning that the Estonian economy was 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.

 

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 2018 on 12 March 2019.

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:
Eesti Pank Statistics Department