Finland: Current account in balance in January
March 15, 2017
The current account was almost in balance in January with a surplus of just 22 million, according to Statistics Finland. The result contrasted the revised EUR 562 million deficit recorded in December (previously reported: EUR 297 million).
In the 12 months up to January, the cumulative current account balance recorded a EUR 2.0 billion deficit, a fall from December’s cumulated current account deficit of EUR 2.3 billion.
The trade balance was EUR 130 million in surplus in January, the best reading since September 2016 and contrasted December EUR 209 million deficit. On an annual basis, exports grew by 25.8% in January, which was a swing from December’s 3.0% contraction. Imports also improved this month, growing 15.3% in January, well above December’s 2.0% rise.
Author: Christopher Mc Innes, Economist