Finland: Current account balance deteriorates
March 15, 2013
In January, the current account posted a deficit of EUR 430 million, which was smaller than the EUR 616 million deficit observed in December, but represented a deterioration over the EUR 303 million shortfall recorded in the same month last year.
The trade balance recorded a deficit of EUR 207 million, which was smaller than the EUR 569 million deficit seen in December. The result came on the back of a rebound in exports, which swung from a 13.6% year-on-year contraction in December to a 2.5% increase in January. Meanwhile, imports rose 4.9%, contrasting the 8.7% fall recorded in December.
FocusEconomics Consensus Forecast panellists expect the current account to reach a deficit of EUR 1.2 billion this year before narrowing down to EUR 800 million in 2014.