10.08.202010:30:00UTC+00Estonia Trade Deficit Narrows In June

Estonia's trade deficit narrowed in June as imports declined and exports remained unchanged, figures from Statistics Estonia showed on Monday.

The trade deficit fell to EUR 11 million in June from EUR 108 million in the same month last year. In April, the trade deficit was EUR 86 million.

Exports remained unchanged year-on-year in June, after a 25.0 percent decline in May.

Imports decreased 8.0 percent annually in June, following a 24.0 percent fall in the previous month.

"The main contributors to the recovery of exports were wood and metal industries," leading analyst at Statistics Estonia, Evelin Puura, said.

"In the second quarter as a whole, the main impact on trade came from decreased exports and imports of transport equipment and mineral products."

In the second quarter, the trade deficit was EUR 162 million. Exports and imports fell 18.0 percent and 15.0 percent, respectively.