Finland: Current account surplus widens in May on the back of surging exports
July 14, 2017
Finland´s current account recorded a surplus in May, improving on the previous month’s result. According to Statistics Finland, May’s current account surplus stood at EUR 1.0 billion, up from April’s EUR 0.4 billion surplus. This marks the largest surplus since September 2014.
In the 12 months up to May, the current account surplus totaled EUR 1.5 billion, improving on April’s balanced current account.
The trade balance also improved. May saw a EUR 48 million surplus in the trade balance, contrasting April’s EUR 80 million deficit. On an annual basis, exports grew 24.5% in May, a notable acceleration from April’s 3.7% increase. Imports also accelerated, growing 15.6% in May, above the previous month´s 5.3% rise.
Author: Christopher Mc Innes, Economist