Finland: Current account plunges to a deficit in June
August 15, 2017
Finland´s current account swung to a deficit in June, deteriorating from May’s revised EUR 0.5 billion surplus (previously reported: EUR 1.2 billion surplus) to a EUR 0.3 billion deficit. The spike in May had represented the largest surplus since September 2014.
In the 12 months leading up to June, the current account surplus totaled EUR 1.0 billion, remaining on par with May.
The trade balance deteriorated somewhat. June saw a EUR 24.9 million surplus, representing a decrease from May’s EUR 48.4 million surplus. On an annual basis, exports grew 2.0% in June, a notable deceleration from May’s 25.3% increase. Imports also decelerated, growing 8.1% in June, below the previous month’s 16.4% rise.
Author: Edward Gardner, Economist