Finland: Current account drops deeper into deficit in March
The current account deficit grew to EUR 1.2 billion in March, from the EUR 0.5 billion shortfall recorded in both February 2020 (previously reported: EUR -0.4 billion) and March 2019.
In the 12 months leading up to March, the current account balance logged a shortfall of EUR 3.3 billion, dropping from February’s EUR 2.6 billion deficit.
The merchandise trade balance, however, came in at a EUR 0.2 billion surplus in March having recorded a EUR 0.4 billion deficit in February (March 2019: EUR 0.3 billion). Exports dropped 8.0% in March compared with the same month a year earlier, slowing from the 12.3% contraction in February, while imports fell 6.5% this month, having fallen 3.0% in the month prior.