Finland: Current account deficit narrows in August
October 14, 2016
The current account posted a EUR 166 million deficit in August, according to Statistics Finland. The result contrasted the EUR 151 million surplus recorded in the same month last year but came in above July’s EUR 442 million deficit.
The trade balance was EUR 301 million in deficit in August, which followed July’s smaller EUR 28 million deficit. On an annual basis, exports fell 2.4% in August, which followed July’s steeper 10.5% decline. Imports rebounded to a 3.2% expansion from July’s 6.5% decrease.
In the 12 months up to August, the accumulative current account balance recorded a EUR 1.9 billion deficit, which exceeded July’s accumulated current account deficit of EUR 1.6 billion.