Finland Current Account March 2022

Finland

Finland: Current account deficit deepens in March

May 13, 2022

The current account recorded a EUR 1.2 billion deficit in March, deteriorating from the EUR 0.3 billion deficit clocked in February- March 2021: EUR 0.7 billion deficitMeanwhile, in the 12 months leading up to March, the current account posted a EUR 0.7 billion surplus, compared to the EUR 1.2 billion surplus booked in February.

The merchandise trade balance deteriorated from the previous month, recording a EUR 0.5 billion deficit in March (February 2022: EUR 0.3 billion deficit). Merchandise exports soared 20.8% in annual terms in March, on the heels of February’s 22.3% jump. Meanwhile, merchandise imports shot up 33.6% on an annual basis in March (February: +29.5% yoy).

Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a EUR 1.8 billion surplus in March, compared to the EUR 2.5 billion surplus in February.

FocusEconomics Consensus Forecast panelists see a 0.1% surplus in 2022. In 2023, panelists project the current account to be balanced.


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Finland Current Account Chart


Finland Current Account March 2022 3

Note: Monthly and 12-month current account balance in EUR billion.
Source: Statistics Finland.


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