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Estonia trade deficit widens in May from April

Published 07/12/2010, 01:21 AM
Updated 07/12/2010, 01:24 AM

TALLINN, July 12 (Reuters) - Estonia's preliminary foreign trade deficit widened to 1.2 billion kroons ($97.3 million) in May from a 356 million-kroon deficit in April, the statistics office said on Monday.

Exports amounted to 11.3 billion kroons and imports were 12.5 billion kroons to show an increase of 39 percent in exports and a 47 percent increase in imports compared to a year earlier.

The last time exports were so high was in October 2008 when they totalled 13.3 billion kroons, the office said in a statement.

Estonia is looking for an export-led recovery after the economy fell into recession in early 2008 and the economy contracted by 14.1 percent in 2009 while domestic demand in its small economy is expected to remain weak into 2011. ($1=12.33 Estonian Kroons) (Reporting by David Mardiste; Editing by Neil Fullick)

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