Finland: November sees first current account
January 15, 2016
The current account posted a EUR 21 million deficit in November, according to Statistics Finland. This result followed the EUR 19 million surplus recorded in the same month last year, and contrasted the revised EUR 13 million surplus recorded in October (previously reported: EUR 25 million deficit.)
The trade balance registered a deficit of EUR 20 million in November, contrasting the EUR 93 million surplus recorded in November 2014, and marking the lowest figure since January 2015. On an annual basis, exports fell 5.2% in November, which followed last month’s 9.4% contraction. Imports contracted 2.7%, which marked less of a contraction compared to last month’s 7.7% decrease.
In the 12 months up to November, the current account balance recorded a EUR 0.6 billion surplus. The figure was down slightly from October’s tally of EUR 0.7 billion and represents the lowest accumulated current account surplus in five months.
Author: Robert Hill, Economist