Finland: Current account posts smaller surplus in July
September 10, 2021
The current account recorded a EUR 0.6 billion surplus in July, widening from the EUR 0.1 billion one logged in July 2020, but narrowing from June’s EUR 0.7 billion. In the 12 months leading up to July, the current account clocked a EUR 4.3 billion surplus, markedly above the EUR 0.4 billion surplus of July last year.
The merchandise trade balance posted a EUR 0.2 billion surplus in July, swinging from the EUR 0.1 billion shortfall logged in the same month last year, but below the EUR 0.3 billion surplus recorded last month. The print reflected exports increasing at a quicker pace than imports in annual terms.
Meanwhile, the financial account registered a EUR 1.3 billion new capital inflow in July, a larger inflow than July 2020’s EUR 0.5 billion one and contrasting the prior month’s EUR 0.9 net capital outflow. July’s result was due to large inflows in portfolio investment and financial derivatives and employee stock options compared to June.
Author: Marta Casanovas , Junior Economist