Finland: Current account surplus narrows in October
The current account recorded a EUR 0.2 billion surplus in October, deteriorating from the EUR 0.7 billion surplus booked in September (October 2022: EUR 0.3 billion deficit). Meanwhile, the 12-month trailing current account deficit deteriorated, coming in at EUR 1.1 billion in October (September: EUR 1.6 billion deficit).
The merchandise trade balance worsened from the previous month, recording a EUR 0.6 billion surplus in October (September 2023: EUR 0.7 billion surplus). Merchandise exports plummeted 11.2% year-on-year in October, following September’s 15.9% dive. October’s result marked the smallest contraction since May. Meanwhile, merchandise imports dived 19.1% in annual terms in October (September: -19.5% yoy), also marking the strongest result in five months.