Finland: Current account turns negative in February
April 13, 2012
In February, the current account balance recorded a deficit of EUR 230 billion, which contrasted the EUR 175 billion surplus (previously reported: EUR 172 billion surplus) tallied in January and marked, in fact, the first shortfall in four months. The deterioration over the previous month was entirely driven by a drop in the trade balance, which swung from a EUR 3 million surplus in January to a EUR 401 million deficit in February. Imports accelerated to an 8.4% expansion, up from a 5.2% increase in January, whereas exports swung from a 0.8% rise in in January to a 0.4% contraction in February. As a result, the 12-month moving sum of the current account balance continued to decline, falling from minus EUR 1.5 billion in January to minus EUR 1.9 billion in February.