Finland: Current account swings to deficit in February
The current account recorded a EUR 0.3 billion deficit in February, deteriorating from the EUR 0.3 billion surplus booked in January (February 2022: EUR 0.5 billion deficit). Meanwhile, the 12-month trailing current account deficit improved, coming in at EUR 9.5 billion in February (January: EUR 9.7 billion deficit).
In addition, the merchandise trade balance deteriorated from the previous month, recording a EUR 0.2 billion surplus in February (January 2023: EUR 0.6 billion surplus). Merchandise exports contracted 4.1% in annual terms in February (January: +15.2% year-on-year). Meanwhile, merchandise imports plummeted 11.3% on an annual basis in February (January: +0.5% yoy), marking the weakest result since October 2020.