Estonia’s trade balance swung to a surplus in October as exports rose and imports declined, figures from Statistics Estonia showed on Thursday.
The trade balance registered a surplus of EUR 27 million in October versus a deficit of EUR 173 million in the same month last year. In September, the trade surplus was EUR 25 million.
Exports rose 10.0 year-on-year in October, after an 11.0 percent growth in September.
Imports decreased 5.0 percent yearly in October, same as seen in the previous month.
Exports exceeded imports for the second straight month in October, Evelin Puura, an analyst at Statistics Estonia, said.
“The goods of Estonian origin accounted for three quarters of the total exports, and their dispatches increased by 21% year on year,” Puura said.
The latest growth was driven by the exports of communication equipment, processed heavy fuel oils, shale oil and wheat of Estonian orgin, Purra added.
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