Finland: Current account surplus moderates in January
The current account recorded a EUR 0.1 billion surplus in January, deteriorating from a EUR 1.2 billion surplus in December, but matching the surplus recorded in January 2021. Meanwhile, in the 12 months leading up to January, the current account clocked a EUR 2.3 billion surplus, unchanged from the surplus logged in December.
The merchandise trade balance deteriorated from the previous month, recording a EUR 0.1 billion deficit in January (December 2021: EUR 0.5 billion surplus; January 2021: 0.0). Merchandise exports jumped 32.1% over the same month last year in January (December: +16.7% year-on-year). Meanwhile, merchandise imports climbed 35.2% in annual terms in January (December: +41.2% yoy).
Meanwhile, the financial account registered a smaller EUR 1.8 billion net capital inflow in January (December 2021: EUR 5.2 billion inflow; January 2021: EUR 2.1 billion net capital inflow). January’s smaller inflows were largely due to large portfolio investment outflows compared to December 2021.