A flash estimate put Estonia's current account at €103 million in surplus in December 2022, down from a €250 million surplus on year, with goods exports up 3 and imports 6 percent on year, and service exports down 12 but imports up 12 percent on year, according to a statistical release published by the Bank of Estonia on Monday.
Flash estimates published monthly
The Bank of Estonia publishes the flash estimate of the balance of payments for the month before last on a monthly basis.
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.
The central bank will publish the balance of payments for the fourth quarter of 2022 in March 2023.
The Bank of Estonia's statistical release is independent of economic policy releases and presented separately.
Editor: Aili Vahtla