Wednesday, Bank of Estonia said in a preliminary report that the current account surplus amounted to EEK 1.1 billion in June. In the second quarter, the current account showed a surplus of EEK 2 billion.
The turn from a longtime current account deficit into a surplus was mainly driven by decrease of goods and income deficit, the bank said.
In June, the trade deficit totaled EEK 0.2 billion. Exports and imports declined by 13% and 19%, respectively on an annual basis . Month-on-month, exports increased 17% and imports grew 18%.
The services account surplus decreased 29% year-on-year to EEK 1.3 billion in June, while the capital account surplus amounted to EEK 0.5 billion.
Meanwhile, the net outflow of capital in the financial account amounted to EEK 1.6 billion and the balance of Payments' reserve assets increased by EEK 0.5 billion.
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