Finland: Current account surplus shrinks for third month in August
October 14, 2011
The current account balance recorded a surplus of EUR 174 million in August, which came in below the EUR 210 million surplus observed in July and represented its most moderate reading in three months. Exports expanded a resilient 10.3% over the same period last year, which came in above the 8.0% increase recorded in July and marked the fastest pace in three months. Nevertheless, imports also picked up from an 8.9% increase in July to a 12.1% expansion in August. As a result, the trade surplus shrank from EUR 80 million in July to EUR 50 million in August. Meanwhile, current transfers as well as the services and income balance were broadly unchanged from the previous month, recording a surplus of EUR 273 million (July: EUR 280 million surplus) and a shortfall of EUR 150 million (July: EUR 150 million surplus) respectively. The moving 12-month current account surplus stood at EUR 1.97 billion, which marked the smallest surplus since 1995.