Finland: Current account incurred a surplus
February 16, 2012
In December, the current account incurred a surplus of EUR 89.4 million, which was lower than the revised EUR 212 million surplus recorded in November (previously reported: EUR 302 million). The services and income accounts was broadly unchanged compared to the previous month. However the trade balance remained in negative territory for a third month in a row. The negative print was the result of exports recording a 3.5% year-on-year contraction in December, down from a flat reading in November, while imports improved from a 4.2% expansion in November to a 10.3% increase. Owing to the subdued reading, the moving 12-month current account balance dropped from a revised minus EUR 274 million in November (previously reported: EUR -184 million) to minus EUR 1,017 million in December.