The surplus on the current account in July about the same as a year ago

The flash estimate1 put the Estonian current account at 13 million euros in suplus in July 2019. The surplus on the goods and services account increased by 20 million euros from a year earlier to 74 million euros. Goods exports were up by 7% and imports by 8% over the year. The deficit on the goods account widened by 15 million euros to 158 million euros. Services exports were up by 6% and imports by 1% over the year. The surplus on the services account was 232 million euros, which was 36 million euros more than a year earlier. The net outflow of investment income and current transfers, or the primary and secondary income accounts, totalled 61 million euros in July, up by 18 million euros year on year. The current and capital accounts were in surplus by a total of 50 million euros.

 

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. The balance of payments for the third quarter of 2019 will be published on 10 December 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
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