Estonia’s current account surplus €42 million in May ({{contentCtrl.commentsTotal}})

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Estonia continued at a current account surplus in May. Source: (Lee Jae-Won/Reuters/Scanpix)

Estonia ran a current account surplus of €42 million in May 2017, a flash estimate published by the Bank of Estonia on Friday indicates.

The surplus of the goods and services account was €76 million, which is €7 million more than a year ago. Goods exports were up by 12 percent and imports by 10 percent, as a result of which the deficit on the goods account narrowed by €13 million to €85 million.

The surplus on the services account was €161 million, €5 million less than at the same time a year ago. Services exports grew by 5 percent and imports by 10 percent. The net outflow on the primary and secondary income accounts increased by €14 million to €34 million.

The current and capital accounts ran a surplus of €21 million, meaning that the Estonian economy was a net lender to the rest of the world, so the country as a whole invested more financial assets abroad than it received from there.

Editor: Dario Cavegn

Source: BNS

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