Finland: Current account deficit widens in March
May 15, 2017
Finland´s current account recorded a slight deficit in March, worsening from previous month´s result. According to Statistics Finland, March´s current account deficit stood at EUR 0.1 billion, deteriorating from February´s EUR 25 million deficit. This marks the worst result in three months and the second consecutive month of a current account deficit since a EUR 21 million surplus was recorded in January.
In the 12 months up to March, the current account deficit totaled EUR 2.2 billion, inching down from February´s corresponding figure of EUR 2.3 billion.
Conversely, the trade balance improved. March saw a EUR 0.4 billion surplus in the trade balance, coming in higher than February´s revised EUR 79 million surplus (previously reported: EUR 34 million surplus). On an annual basis, exports grew 17.2% in March, a notable increase from February´s revised 6.5% increase (previously reported: +4.5% year-on-year). Imports also rose, growing 7.8% in March, above the previous month´s 5.1% rise (previously reported: +4.2% year-on-year).
Author: Nihad Ahmed, Economist