Finland: October sees first current account
December 15, 2015
The current account posted a EUR 25 million deficit in October, according to Statistics Finland. This result followed the EUR 70 million surplus recorded in the same month last year.
The trade balance registered a surplus of EUR 33 million in October, down from the EUR 176 million surplus recorded in October 2014. On an annual basis, exports fell 10.1% in October, which followed last month’s 11.9% contraction. Imports contracted 7.6%, which marked less of a contraction compared to last month’s 8.0% decrease.
In the 12 months up to September, the current account balance recorded a EUR 0.6 billion surplus. The figure was down slightly from last month’s tally of EUR 0.7 billion and represents the lowest accumulated current account surplus in four months.
Author: Robert Hill, Economist