Finland: Current account balance rebounds in September
November 15, 2012
In September, the current account balance posted a EUR 73 million surplus. The figure contrasted the revised EUR 22 million deficit seen in August (previously reported: plus EUR 75 million), but was lower than the EUR 442 million surplus recorded in the same month last year. The trade balance recorded a surplus of EUR 118 million, which is virtually unchanged from the EUR 120 million surplus seen in August. Exports contracted 7.4% in September, which marks, in fact, the largest contraction in five months and contrasts the 5.9% expansion seen in August. Meanwhile imports declined further, falling 6.4% in September (August: -0.9% yoy). The 12-month moving sum of the current account balance declined to minus EUR 4.2 billion (around 2.0% of GDP).