Finland: Current account deficit increases in February
April 15, 2015
The current account posted a EUR 502 million deficit in February. This represented a significant increase in the current account deficit compared to the EUR 384 million shortfall recorded in the same month last year.
The trade balance registered a deficit of EUR 7 million in February, contrasting the revised EUR 43 million surplus recorded in February of last year. On an annual basis, exports fell 3.3% compared to last month’s 10.8% contraction (previously reported: -10.2% year-on-year). Imports fell 2.1% which was the highest reading in three months and was much less pronounced than January’s 13.6% decrease (previously reported: -14.1% yoy).
In the 12 months up to February, the current account balance recorded a EUR 3.8 billion deficit. The print was down from the EUR 3.7 billion shortfall recorded in the 12 months up January.
Author: Robert Hill, Economist