Estonia Trade Gap Narrows In January

(RTTNews) - Estonia's trade deficit in January decreased from the same month last year, as exports rose amid a fall in imports, figures from Statistics Estonia showed on Thursday.

The trade deficit narrowed to EUR 247 million in January from EUR 350 million in the same month last year. In December, the trade gap was EUR 242 million.

Exports were 4.0 percent higher on a year-on-year basis in January, while imports declined 2.0 percent.

Data showed that exports to EU countries grew 11.0 percent compared to last year, and imports from these countries increased by 2.0 percent. Shipments to non-EU countries fell notably by 16.0 percent, while inflows from these countries plunged by 2.0 percent.

"There were larger exports of fuels to Singapore in January last year and also a large one-off transaction with Turkey in import trade," Evelin Puura, the Foreign Trade Statistics Service Manager at Statistics Estonia, said.