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Friday, July 25, 2008

Estonian Exports Drop Sharply Again In May

Estonia,s exports dropped sharply again in May, falling by 816 million kroon (or 6.7%) over April, and by 2% over May 2007. Imports were also down sharply (by 11% year on year) and as a result Estonia's trade deficit was the narrowest in more than two years in May, helped by falling imports of wood and cars.

Basically this is all really not very good news, since when you are an export driven economy falling exports are the last thing you need!

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