Finland: Current account records surplus in July
September 15, 2015
The current account posted a EUR 376 million surplus in July. This result contrasted the EUR 686 million shortfall recorded in the same month last year.
The trade balance registered a surplus of EUR 356 million in July, contrasting the EUR 133 million deficit recorded in July 2014. On an annual basis, exports rose 0.8%, which contrasted last month’s revised 1.2% contraction (previously reported: -?0.4% year-on-year). Imports contracted 9.5%, which marked a deterioration over last month’s 7.3% decrease (previously reported: -8.0% year-on-year).
In the 12 months up to July, the current account balance recorded a EUR 0.8 billion surplus. The figure represented the highest average current account surplus since May 2011. The print was up from the EUR 0.2 billion shortfall recorded in the 12 months leading up to June (previously reported: EUR -1.5 billion 12-month-sum).
Author: Robert Hill, Economist