Bank of Estonia: Estonia's current account surplus €104 million in May

Tallink ship departing from Tallinn. Source: Siim Lõvi /ERR

The Bank of Estonia's flash estimate put the Estonian state's current account at €104 million in surplus in May 2020. The drop in the turnover of goods and services from a year earlier was larger than in April

A year ago, Estonia's surplus was €93 million.

Compared to May 2019, exports of goods fell by 21 percent and imports by 26 percent. The balance of the goods account was €78 million larger than a year earlier at close to zero.

Services exports were 42 percent less than a year earlier and imports were 45 percent less.

The biggest fall was in the turnover of travel services and passenger transport services. The surplus in services was €73 million smaller than in May last year at €131 million

The outflow of investment income fell by half, meaning the negative balance of primary income narrowed to €5 million.

The active take-up of infrastructure support meant the surplus on the capital account was €29 million and the current and capital accounts together were in surplus, so Estonia was again a net lender to the rest of the world 

The Bank of Estonia's infographic is below. 

It can be viewed on the bank's website here


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Editor: Helen Wright

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