Finland: Current account balance remains positive July
September 14, 2012
In July, the current account balance posted a EUR 149 million surplus. The figure, which marked the second consecutive monthly surplus, was higher than the revised EUR 116 million surplus seen in June (previously reported: EUR 260 million) but came in below the EUR 176 million surplus recorded in the same month last year. The trade balance recorded a surplus of EUR 234 million, which contrasted the EUR 27 million deficit seen in July last year. Exports swung from a 3.8% year-on-year contraction in June to a 2.6% expansion in July, while imports remained virtually unchanged, falling 3.3% (June: -3.2% yoy). The 12-month moving sum of the current account balance inched down to minus EUR 3.8 billion (around 1.9% of GDP).