Central Bank of Estonia reports EUR 52 million current account surplus and 6% rise in trade turnover in Q2 2025

The Central Bank of Estonia published balance of payments data for the second quarter of 2025 showing that the turnover of both exports and imports of goods and services rose by 6%, while the current account recorded a EUR 52 million surplus, equal to 0.5% of GDP. The surplus reflected a smaller deficit on the goods account and a larger surplus on the services account compared with a year earlier. Goods exports grew across most major product groups and destination countries, with the strongest growth to Poland and Lithuania and some growth to Germany, while sales also increased in France as exporters sought new markets. These flows largely replaced exports previously destined for Nordic markets, where demand continued to decline in Finland, Sweden and Norway; machinery and equipment, wood and wood products, and processed food products contributed most to goods export growth. Services exports increased by 8% year on year, led by telecommunications and computer services (up 14%) and business services (up 10%); travel services rose by 11% during the spring and summer tourism season, while transport services declined further due mainly to lower road freight volumes. On the import side, goods imports rose by 3.2% driven by machinery and equipment and electronics, with one-off capital goods purchases for national defence affecting imports in the first half of the year, and services imports were up 11% year on year.