Baltics see export boost

  • 2010-08-17
  • TBT Staff

An increase in exports is welcome news for countries that have been hard hit by the economic crisis.

VILNIUS - Recent data from Eurostat, the EU's official statistics agency, has found that the Baltic states are enjoying a significant boost to exports -- the three countries all ranked within the top 5 in the EU in terms of growth.

The boost to exports comes as welcome news to the three countries, all of which have this month announced a return to growth after two years of crippling ecnomic decline.

Estonia has the second-highest increase in the EU at 26 percent, while Latvia and Lithuania were tied in fourth at 22 percent. Malta had the largest increase of exports at 35 percent.

The Baltics' main trading partners include Russia, Sweden and Germany.

Of all EU member states, Germany had the largest trade surplus of 60.2 billion euros, whereas Great Britain had the largest trade deficit of 42.8 billion euros.

Latvia also registered the EU's second smallest increase in imports with 5%, with the imports volume increasing the least in Bulgaria at 3%.