Estonia’s external position weakened in the second quarter of 2026, as the current account deficit expanded to -2.60% of GDP from -0.90% in the first quarter of the year. The shift marks a notable deterioration in the country’s balance with the rest of the world over just one quarter.
The latest figures, updated on 08 September 2026, indicate that Estonia is now running a deeper deficit relative to its economic output than earlier in the year. While no detailed breakdown was provided, the move from a moderate to a more pronounced deficit could reflect changes in trade flows, income balances or transfers that will be closely watched by policymakers and investors monitoring the sustainability of Estonia’s external accounts.
The data underline a turning point in Estonia’s current account trajectory in 2026, as the country moved further into negative territory between the first and second quarters, raising questions about whether this widening deficit will persist in the coming periods.
