Estonia’s foreign trade deficit decreased in March from a year ago, as exports rose faster than imports, figures from Statistics Estonia showed Monday.
The trade deficit narrowed to EUR 151.9 million in March from EUR 176.5 million in the same month of the previous year. In February, the shortfall was EUR 132.0 million.
Exports grew 3.0 percent year-over-year in March and imports climbed by 1.0 percent. The increase in exports and imports was mostly influenced by a growth in the trade of electrical equipment and miscellaneous manufactured articles.
On a monthly basis, both exports and imports jumped 22 percent and 21 percent, respectively in March.
Exports to EU countries rose 7.0 percent annually in March, while imports from EU dropped 3.0 percent.
In the first quarter of this year, total trade deficit of the country was EUR 352.2 million versus EUR 411.8 million in the corresponding period last year. Exports stayed on the same level and imports declined by 3.0 percent.
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