Thursday, a report by Statistics Estonia said the trade deficit stood at EEK1.57 billion in January, narrowing from an EEK3.07 billion deficit in the previous month. The report said the trade deficit was the smallest since January 2005.

Exports declined 29% annually to EEK7.2 billion in January, while imports dropped 36% to EEK8.8 billion. The statistical office said exports were at the lowest level since the first quarter of 2005.

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