Finland: Another current account deficit in October after a substantial revision to historical data
December 14, 2018
The current account balance was minus EUR 0.17 billion in October, deteriorating from the EUR 0.36 billion deficit in September (previously reported: surplus of EUR 0.10 billion). Moreover, the deficit in October this year contrasts the surplus of EUR 0.73 billion in the same month last year.
In the 12 months leading up to October, the current account deficit was EUR 3.7 billion, a deterioration from the EUR 2.8 billion deficit in September.
In October, the trade balance deteriorated to a deficit of EUR 0.04 billion from a shortfall of EUR 0.02 billion in September. Although exports rose 3.4% in October, contrasting the 1.7% fall in September, imports rose a whopping 8.8% in October, up from the 4.0% increase in September.
Finland Current Account Balance Forecast
FocusEconomics Consensus Forecast panelists expect the current account to record a balance of 0.0% of GDP in 2019. For 2020, panelists expect a current account deficit of 0.1% of GDP.
Author: Edward Gardner, Economist