Estonia’s trade deficit decreased in December, amid a rise in exports and imports, figures from Statistics Estonia showed on Wednesday.

The trade deficit decreased to EUR 131 million in December from EUR 259 million in the same month last year. In November, the trade deficit was EUR 62 million.

Exports rose 25.0 percent year-on-year in December, after a 9.0 percent growth in November.

Imports increased 10.0 percent yearly in December, after a 7.0 percent rise in the previous month.

In the fourth quarter, trade deficit was EUR 166 million. Exports gained 14.0 percent yearly and imports rose 4.0 percent.

In 2020, exports declined 1.0 percent and imports fell 6.0 percent.

“Trade underwent a slight decrease in the first quarter, and then suffered a sharp decline in the second quarter,” Evelin Puura, leading analyst at Statistics Estonia, said.

The latest decline was caused by restrictions related to the coronavirus, as many enterprises were forced to cut their production volumes and cross-border trade was hampered, Puura said.

The material has been provided by InstaForex Company –

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