Finland: Exports drop and current account deficit widens in March
May 13, 2016
The current account posted a EUR 136 million deficit in March, according to Statistics Finland. This result marked the lowest reading in almost a year, coming in below the EUR 116 million deficit recorded in the same month last year and contrasting the EUR 109 million surplus recorded in February.
The trade balance registered a surplus of EUR 28 million in March, falling short of the the EUR 133 million surplus recorded in February. On an annual basis, exports fell 9.8% in March, which followed the previous month’s softer 2.4% contraction. Imports decreased 7.9%, a more severe contraction compared to February’s 5.2% fall.
In the 12 months up to March, the current account balance recorded a EUR 400 million surplus. The figure mirrored February’s print, which had represented the highest accumulated current account reading in three months.