Estonian October 2007 Trade Deficit

Estonia's trade deficit shrank to the narrowest in eight months in October as imports of machinery fell from a year earlier. The October deficit fell to 3.6 billion krooni ($333 million) from a revised 4.6 billion krooni in October of last year and a revised 4.2 billion krooni in September, the Tallinn-based statistics agency said in an e-mail today.

Import growth generally stalled in 2008 as Estonians spent less on cars, clothes and household goods due to rising interest costs and the weakening consumer sentiment. Export growth has also slowed as companies struggle with rising wage costs, which were up 20 percent in the third quarter.