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Tuesday, the Bank of Finland said the current account balance posted a surplus of 444 million euros in July, slightly bigger than the surplus of 442 million euros in June. A year ago, there was a surplus of 585 million euros.
The current account surplus in July was driven by the service trade balance, which turned to a surplus of 48 million euros in July from a deficit of 43 million euros in the previous month. Also, the income surplus was at 258 million euros in July, up from 145 million euros in June.
On the other hand, the goods trade surplus contracted to 260 million euros in July from 429 million euros in the previous month, while the deficit in current transfers widened to 122 million euros from 89 million euros in June.
The financial account surplus expanded to 4.89 billion euros in July compared to a surplus of 1.57 billion euros in the prior month.
During the January to July period, the current account posted a deficit of 0.3 billion euros, compared with a surplus of 2.2 billion euros in the year-earlier period, the central bank said.
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