Finland: Current account deficit widens in December
February 15, 2016
The current account posted a EUR 191 million deficit in December, according to Statistics Finland. This result contrasted the EUR 209 million surplus recorded in the same month of the previous year, and followed the revised EUR 13 million deficit recorded in November (previously reported: EUR 21 million deficit.)
The trade balance registered a deficit of EUR 101 million in December, contrasting the EUR 205 million surplus recorded in December 2014, and marking the largest shortfall since July 2014. On an annual basis, exports fell 4.9% in December, which followed the previous month’s 4.4% contraction. Imports increased 1.6%, contrasting the 2.2% decrease recorded in November.
In the 12 months up to December, the current account balance recorded a EUR 200 million surplus. The figure was down from November’s surplus of EUR 600 million and represents the lowest accumulated current account surplus in six months.
Author: Robert Hill, Economist