According to the rapid assessment of Eesti Pank, the current account of Estonia's balance of payments was in a surplus of 25 million euros in October 2022, the surplus was 53 million euros a year earlier.
Export of goods increased by 17 percent and import by 21 percent compared to a year ago, and the negative balance of the goods account increased by 79 million euros to 172 million euros. Export growth was contributed by the export of mineral products and foodstuffs. Imports were boosted by imports of mineral products, while imports of wood and wood products declined due to sanctions against Russia, the central bank said.
Compared to a year ago, the export of services increased by 21 percent and the import by 31 percent, and the surplus of the services account decreased by 9 million euros, to 199 million. The increased number of foreign tourists strongly increased the export of travel services, and Estonian residents also traveled abroad much more than a year ago.
The total outflow of income in the account of primary and secondary income was 3 million euros. The 12-month current account had a surplus of 627 million euros in October, while a year earlier it had a deficit of more than 1.8 billion euros.