Estonia Trade Gap Widens

(RTTNews) - Estonia's trade deficit widened in August on sharp annual increase in imports, data from Statistics Estonia showed Monday.

The trade deficit increased to EUR 360 million from EUR 249 million in the previous year. In July, the trade shortfall totaled EUR 454 million.

Exports grew 3.0 percent on a yearly basis, faster than the 2.0 percent rise in July. At the same time, growth in imports accelerated to 10.0 percent from 3.0 percent. Statistics Estonia foreign trade statistics analyst Jane Leppmets said that imports were boosted the most by the increased arrivals of mineral products in August.

"Year on year, imports of mineral products grew by 30 percent overall, whereas imports of automotive fuel grew by as much as 67 percent," Leppmets added. "This was mainly influenced by the rising prices of petroleum on the global market," said Leppmets.