Finland: Current account surplus narrows in November
The current account posted a EUR 0.4 billion surplus in November, up from the EUR 2.0 billion shortfall posted in October (November 2020: EUR 0.9 billion surplus). Meanwhile, the 12-month trailing current account surplus deteriorated, coming in at EUR 2.0 billion in November (October 2021: EUR 2.5 billion surplus).
The merchandise trade balance was stable at October’s EUR 0.1 billion surplus in November (November 2020: EUR 0.3 billion surplus). Merchandise exports expanded 29.6% on an annual basis in November (October: +17.8% year-on-year). Meanwhile, merchandise imports soared 36.2% on an annual basis (October: +27.5% yoy), marking the best result since March 2011.
Meanwhile, the financial account registered a smaller EUR 2.3 billion net capital inflow in November (October 2021: EUR 5.9 billion inflow; November 2020: EUR 0.7 billion net capital outflow). November’s smaller net inflows were largely due to higher portfolio investment outflows and virtually unchanged inflows from the prior month.