Finland: Current account deficit narrows in May
July 11, 2014
The current account posted a EUR 225 million deficit in May. The print marked a significant retreat compared to the EUR 1.2 billion deficit recorded in April and represented the lowest deficit in six months.
The trade balance registered a surplus of EUR 443 million in May, which contrasted the EUR 201 million deficit recorded in April. Exports grew 8.3% over the same month last year (April: -4.7% year-on-year) and imports rose 3.5% in May (April: +1.2% yoy).
In the 12 months up to May, the current account balance recorded a EUR 4.7 billion deficit, which marked a slight deterioration over the EUR 4.6 billion shortfall recorded in the 12 months up to April.