Finland: Current account records mild surplus in August
October 14, 2015
The current account posted a EUR 195 million surplus in August according to Statistics Finland. This result followed the EUR 168 million shortfall recorded in the same month last year.
The trade balance registered a surplus of EUR 97 million in July, up from the EUR 51 million deficit recorded in August 2014. On an annual basis, exports fell 4.5%, which contrasted last month’s revised 0.6% contraction (previously reported: -0.8% year-on-year). Imports contracted 5.7%, which marked an improvement over last month’s 8.6% decrease (previously reported: -9.5% yoy).
In the 12 months up to July, the current account balance recorded a EUR 0.8 billion surplus. The figure was stable with last month’s tally and therefore continues to represent the highest accumulated current account surplus since May 2011.
Author: Robert Hill, Economist