Finland Current Account

Finland

Finland: Current account deficit shrinks in May

July 18, 2012

In May, the current account balance posted a shortfall of EUR 506 million, which marked the eighth consecutive negative reading. That said, the figure represents an improvement over the EUR 1.3 billion deficit recorded in May last year. The trade balance reached a EUR 172 million surplus, which contrasted the EUR 140 million deficit observed in the same month last year. The improvement was underpinned by a decline in imports, which contracted 8.2% year-on-year (April: -2.8% yoy), while exports dropped a more moderate 2.2% yoy (April: +2.5% yoy). The 12-month moving sum of the current account balance continued to improve, stepping up from minus EUR 3.2 billion in April to minus EUR 2.4 billion in May


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Finland Current Account Chart


Finland Current Account May 2012

Note: Monthly and 12-month current account balance in EUR billion.
Source: Bank of Finland (BoF).


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