Finland: Current account deficit falls in March
May 15, 2015
The current account posted a EUR 554 million deficit in March. This represented an improvement in the current account deficit compared to the EUR 814 million shortfall recorded in the same month last year.
The trade balance registered a surplus of EUR 133 million in March, contrasting the EUR 9 million deficit recorded in March 2014. On an annual basis, exports rose 5.5% compared to last month’s revised 3.2% contraction (previously reported: -3.3% year-on-year). Imports increased 2.3%, which marked a nine-month high and contrasted February’s 1.8% decrease (previously reported: -2.1% yoy).
In the 12 months up to March, the current account balance recorded a EUR 3.6 billion deficit. The figure represented the smallest average current account deficit since December 2013. The print was up from the EUR 3.9 billion shortfall recorded in the 12 months leading up to February.
Author: Robert Hill, Economist