Estonia Trade Deficit Widens In January

(RTTNews) - Estonia's trade deficit in January increased from the same month last year, as imports grew faster than exports, figures from Statistics Estonia showed on Wednesday.

The trade deficit rose to EUR 331 million in January from EUR 246 million in the same month last year. In December, the trade gap was EUR 393 million.

Exports were 13.0 percent higher on a year-on-year basis in January, and imports were 16.0 percent higher.

Data showed that in intra-EU trade, exports were up by 11 percent and imports by 9 percent. In extra-EU trade, the rise was 19 percent in exports and as much as 57 percent in imports.

"Exports to non-EU countries were mainly influenced by greater exports of goods to the United States, and imports from these countries were boosted by increased imports from Turkey," Jane Leppmets, foreign trade analyst at Statistics Estonia, said.