Estonia’s foreign trade deficit decreased in May from a year ago, as imports fell faster than exports, figures from Statistics Estonia showed Thursday.
The trade deficit fell notably to EUR 84.9 million in May from EUR 137.6 million in the corresponding period of the prior year. In April, the shortfall was EUR 91.5 million.
This was the smallest deficit since January this year, when the shortfall was EUR 36.1 million.
Exports declined 6.0 percent year-over-year in May and imports plunged by 10.0 percent. The biggest decrease occurred in the exports and imports of agricultural products and food preparations, mechanical appliances and mineral products.
On a monthly basis, both exports and imports of goods went down by 8.0 percent in May.
Exports to EU countries logged a decline of 1.0 percent annually in May and imports from EU dropped by 8.0 percent.
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