Finland: Current account surplus dwindles in November
January 13, 2017
The current account posted a EUR 195 million surplus in November, according to Statistics Finland. The result was below the EUR 248 million surplus recorded in October but was considerably above the EUR 2 million surplus logged in November 2015.
In the 12 months up to November, the accumulative current account balance recorded a EUR 1.3 billion deficit, an improvement from October’s accumulated current account deficit of EUR 1.5 billion.
The trade balance was EUR 64 million in surplus in November, a stronger reading than both October’s 24 million surplus and the 38 million deficit observed in November of the previous year. On an annual basis, exports jumped 4.3% in November, which was a robust upswing from October’s 5.3% contraction. Imports also turned around, growing 2.0% in November, well above October’s 1.9% drop.
Author: David Ampudia, Economist