Estonia’s external balance deteriorated sharply at the start of 2026, as the country’s current account moved from a surplus to a deficit relative to the size of its economy. According to the latest data updated on 8 June 2026, the current account fell to -1.50% of GDP in the first quarter of 2026, compared with a surplus of 3.70% of GDP in the fourth quarter of 2025.
The shift from a solid surplus to a deficit within a single quarter marks a notable reversal in Estonia’s external position. While the detailed drivers of the move were not disclosed, the data highlight a clear weakening in the balance between the country’s cross‑border income, trade, and transfers as a share of GDP at the start of the year.
