Finland: Current account balance turns positive again in November
January 16, 2012
In November, the current account incurred a surplus of EUR 302 million. The reading contrasted the EUR 407 million deficit observed in October, which had represented the first negative reading since May. The improvement over the previous month was the result of a larger surplus in the services and income accounts. In addition, the deficit in the trade balance shrank markedly amid an improvement in exports, which recovered from a 25.7% year-on-year contraction in October to a 0.2% decline in November. Meanwhile, imports moderated from a 6.9% expansion in October to a 2.2% increase. Despite the positive current account reading, the moving 12-month sum dropped from minus EUR 8.4 million in October to minus EUR 184 million in November.