Finland: Current account balance falls further into the red
June 15, 2012
In April, the current account balance recorded a deficit of EUR 892 million, which represents the seventh consecutive month of negative readings. The figure was more than twice the EUR 400 million shortfall observed in March (previously reported: EUR 42 million deficit) but slightly better than the EUR 1.17 billion tallied in the same month last year.
The trade balance improved from a EUR 67 million surplus (previously reported: EUR 102 million surplus) to a EUR 122 million surplus. Exports swung from a 0.7% year-on-year contraction in March to a 2.8% expansion in April. Imports also improved, but remained in the red, stepping up from a 9.4% drop in March to a 3.1% contraction in April.
As a result, the 12-month moving sum of the current account balance improved, stepping up from minus EUR 3.4 billion in March to EUR 3.1 billion in April.