Finland: Current account balance remains positive Jan.
March 15, 2012
In January, the current account recorded a surplus of EUR 172 billion. The reading came in above the EUR 125 million observed recorded in December and marked the third consecutive surplus in the current account balance. The improvement was entirely driven by a rebound in the trade balance, which swung from a EUR 308 million shortfall in December to a EUR 6 million surplus in January. Exports stepped up from a 2.4% year-on-year contraction in December to a 0.1% decrease, whereas imports moderated from an 11.8% expansion to a 4.1% increase. Meanwhile, the services and income as well as the current transfers balances stepped down compared to December. Despite the positive monthly reading, the moving 12-month sum continued to decline, falling from minus EUR 1.3 billion in December to minus EUR 1.5 billion in January.