Finland: Current account deficit widens in March
The current account posted a EUR 1.1 billion deficit in March, deteriorating from the EUR 0.2 billion deficit posted in February (March 2023: EUR 0.2 billion deficit). Meanwhile, the 12-month trailing current account deficit widened, coming in at EUR 4.5 billion in March (February: EUR 3.6 billion deficit).
The merchandise trade balance worsened from the previous month, recording a EUR 0.2 billion shortfall in March (February 2024: EUR 0.0 billion deficit). Merchandise exports shrank 36.4% in annual terms in March, contrasting February’s 3.1% rise. March’s outturn marked the largest decline since May 2009. Meanwhile, merchandise imports slid 24.1% over the same month last year in March (February: +5.6% yoy), marking the weakest result since April 2020.