Finland: Current account posts larger surplus in December
The current account posted a EUR 1.2 billion surplus in December, improving from the EUR 0.8 billion surplus posted in November (December 2020: EUR 1.8 billion surplus). Meanwhile, in the 12 months leading up to December, the current account posted a EUR 2.3 billion surplus, compared to the EUR 3.0 billion surplus clocked in November.
The merchandise trade balance improved from the previous month, recording a EUR 0.5 billion surplus in December (November 2021: EUR 0.2 billion surplus; December 2020: EUR 1.4 billion surplus). Merchandise exports shot up 16.7% over the same month last year in December (November: +29.3% year-on-year). December’s outturn marked the weakest expansion since April 2021. Meanwhile, goods imports soared 41.2% over the same month last year in December (November: +34.0% yoy), marking the best result since at least January 2007.
Meanwhile, the financial account registered a larger EUR 5.2 billion net capital inflow in December (November 2021: EUR 2.4 billion inflow; December 2020: EUR 1.9 billion net capital outflow). December’s larger net inflows were largely due to higher portfolio investment inflows.