Estonia was in twelfth place among the European Union countries in the index of economic openness in 2019
Eesti Pank revised its balance of payment time series starting from 2016 and published them on 08.09 together with the balance of payment statistics for the second quarter.
Alongside the usual data, users can now access an additional set of figures and tables showing Estonia’s position among the countries of the European Union, illustrating the long time series of the balance of payments, and providing more detailed information on the external sector by year than in the quarterly statistics published on the website; there are over 60 additional figures and tables.
The ratio of external trade turnover, which is the sum of exports and imports of goods and services, to GDP is also called the trade openness ratio. The ratio shows how integrated a country’s economy is with the world economy. The higher the ratio, the more international trade affects the country’s economy.
More information on the Estonian balance of payment indicators in international comparison and the annual balance of payment statistics since 2000 can be found from annual balance of payment indicators and from the website sections on the balance of payment indicators, the international investment position and the external debt.
Eesti Pank publishes the revised time series for balance of payment statistics each September for the four previous years.
For further information:
Eesti Pank Statistics Department
Ulvi.Saks [at] eestipank.ee