Finland Current Account August 2022

Finland

Finland: Current account deficit falls in August

October 12, 2022

The current account posted a EUR 0.2 billion deficit in August, improving from the EUR 0.3 billion deficit clocked in July (August 2021: EUR 0.4 billion surplus). Meanwhile, the 12-month trailing current account deficit grew, coming in at EUR 8.2 billion in August (July: EUR 7.7 billion deficit).

In addition, the merchandise trade balance worsened from the previous month, recording a EUR 0.1 billion deficit in August (July 2022: EUR 0.1 billion deficit). Merchandise exports jumped 35.7% over the same month last year in August (July: +29.7% year-on-year). Meanwhile, merchandise imports climbed 38.0% over the same month last year in August (July: +34.3% yoy).

FocusEconomics Consensus Forecast panelists see a deficit of 1.2% of GDP in 2022, which is down 0.4 percentage points from last month’s forecast. In 2023, panelists project a deficit of 0.5% of GDP.


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Finland Current Account Chart


Finland Current Account August 2022

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


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