Trade Balance in Estonia
Estonia - Trade BalanceQ1 GDP likely grew at a healthy annual pace. However, the expansion will have been slower than in Q4, and the economy likely registered a contraction in quarter-on-quarter terms. Looking at available indicators, industrial activity in January–March grew at a softer year-on-year pace than in Q4. Meanwhile, retail sales growth also eased amid the red-hot inflation rate and the Omicron wave, although a tight labor market, government aid and pent-up savings likely sheltered spending somewhat. In Q2, industrial activity is likely suffering from global commodity market shocks: Producer prices in April were at a 27-year high. That said, entry requirements for international travelers were eased on 1 April, which should be supporting tourism. In May, Estonia adopted a nearly EUR 900 million supplementary budget for defense spending, energy security and refugee aid, which should boost domestic demand.
Estonia - Trade Balance Data
|Trade Balance (USD billion)||-1.7||-1.8||-2.1||-2.1||-1.9|
5 years of economic forecasts for more than 30 economic indicators.
Estonia Trade Balance Chart
Source: Statistics Estonia.
|Exchange Rate||1.12||0.65 %||Dec 31|
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January 17, 2023
Harmonized inflation eased to 17.5% in December below November’s 21.4%.
January 5, 2023
Industrial output nosedived 12.2% year on year in seasonally and calendar-adjusted terms in November, which was a deterioration from October's 5.9% decrease.
December 7, 2022
Harmonized inflation dropped to 21.4% in November below October’s 22.5%.
December 1, 2022
Industrial output fell 5.8% year on year in seasonally and calendar-adjusted terms in October (September: -7.9% ).
November 30, 2022
GDP contracted 2.4% year on year in the third quarter, swinging from the 0.4% expansion recorded in the second quarter.