The surplus on the goods and services account increased by €30 million to €163 million compared to the same month in 2016. Goods exports were up by 11% year on year, and imports by 7%. This means that the goods account now shows a surplus of €24 million for the first time in several years, the Bank of Estonia said in its Friday update.

However, the surplus on the services account declined by €9 million a year earlier to €138 million. Services exports were up by 2% over the year, imports by 5%. The net outflow of investment income and current transfers, or the primary and secondary income accounts, increased by €45 million to €48 million.

The current and capital accounts were in surplus by a total of €170 million, meaning that the Estonian economy was a net lender to the rest of the world and that the country as a whole invested more financial assets abroad than it received from there.

Download the ERR News app for Android and iOS now and never miss an update!