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Bank of Estonia: Export decline may have started to stop

Bank of Estonia.
Bank of Estonia. Source: Siim Lõvi /ERR

The decline in exports may have stopped and started to level out at the end of last year, the Bank of Estonia believes. The situation may start to improve when foreign markets recover.

Bank of Estonia Economist Mari Rell said there are faint signs the situation is changing, Monday's "Aktuaalne kaamera" reported.

"If we look at the Nordic markets – Finland, Sweden – we were very strongly affected by the changes in the Swedish krona exchange rate. It has improved a little bit, Finland is slowly recovering. The forecast is that the first half of the new year could be one where demand starts to recover," said Rell.

According to the Bank of Estonia's balance of payments flash estimate, exports and imports of goods and services were "in balance" in November. However, exports of goods fell by 11 percent over the year and imports by 15 percent.

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Editor: Aleksander Krjukov, Helen Wright

Source: Aktuaalne kaamera

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