In all, the balance of foreign trade in services in the first quarter was in surplus by €595 million, up €45 million on year, according to a press release.

Jane Leppmets, analyst at Statistics Estonia, noted that growth in foreign trade in services in the first quarter was smaller than the year before.

"In the fourth quarter of 2023, exports of services increased by 6 percent and imports by 8 percent, and last year as a whole, both exports and imports of services increased by 9 percent," Leppmets said, adding that such growth had disappeared by the first quarter of this year.

The most exported services in the first quarter were other business services (including other business support services, advertising and management services), worth a total of €831 million. This was followed by exports of telecommunications, computer and information services (including computer programming and consultancy) for €691 million, and exports of transport services (including road freight transport) for €592 million.

Compared with the first quarter of 2023, the biggest increase occurred in exports of telecommunications, computer and information services; the largest decrease, meanwhile, was recorded in exports of transport services.

The top partner country for Estonia's exports of services in the first quarter was Finland, accounting for 15 percent of total exports, with travel and transport services accounting for the biggest export items. Finland was followed by the U.S., Germany and Sweden at 7 percent each, with telecommunications, computer and information services accounting for the most exported services to the U.S. and Sweden and other business services to Germany.

The biggest increase was seen in exports of services to Hungary, up by €33 million, and the U.S., up by €30 million; the biggest drop, meanwhile, was recorded in exports to Latvia, down by €47 million, and Russia, down by €33 million.

The main services imported to Estonia in the first quarter of 2024, meanwhile, were other business services (including other business support services, management and advertising services), accounting for a total of €645 million. This was followed by transport services (including road and sea freight transport) for €559 million and telecommunications, computer and information services (including computer programming and consultancy) for €447 million.

On year, the biggest increase was recorded in imports of construction services, which were up by €46 million; the biggest decline, meanwhile, was seen in imports of transport services, which were down by €66 million.

Estonia's top partner countries for services imports in the first quarter were Germany, accounting for 8 percent of total imports, and Lithuania and Finland, accounting for 7 percent of imports each, with transport services coming in as the main services purchased from both Germany and Finland other business services as the main services from Lithuania.

The biggest increase in the first quarter was recorded in imports of services from Hungary, up by €57 million, and the U.S., up by €26 million; the biggest decrease, meanwhile, was seen in imports from Ireland, down by €51 million, and Russia, down by €31 million.

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