Finland: Current account surplus tightens in November
January 13, 2020
The current account surplus tightened to EUR 0.2 billion in November from a revised EUR 1.0 billion in October (previously reported: EUR 0.5 billion). However, the current account surplus recorded this month was marginally higher than the EUR 0.1 billion surplus recorded in the same month last year.
In the 12 months leading up to November, the current account balance totaled a deficit of EUR 0.8 billion, marking an improvement from the shortfall of EUR 0.9 billion in October.
The merchandise trade balance dropped to a surplus of EUR 0.1 billion in November, down from the EUR 0.4 billion recorded in October 2019 but staying level to the reading from November 2018. Exports tumbled 8.2% in November compared to the same month a year earlier, deteriorating from the 3.3% decrease in October, while imports slumped 9.0% this month, nearly matching the 8.8% decrease in the month prior.
Author: Stephen Vogado, Economist