Finland Current Account

Finland

Finland: Current account deficit increases in February

April 15, 2015

The current account posted a EUR 502 million deficit in February. This represented a significant increase in the current account deficit compared to the EUR 384 million shortfall recorded in the same month last year.

The trade balance registered a deficit of EUR 7 million in February, contrasting the revised EUR 43 million surplus recorded in February of last year. On an annual basis, exports fell 3.3% compared to last month’s 10.8% contraction (previously reported: -10.2% year-on-year). Imports fell 2.1% which was the highest reading in three months and was much less pronounced than January’s 13.6% decrease (previously reported: -14.1% yoy).

In the 12 months up to February, the current account balance recorded a EUR 3.8 billion deficit. The print was down from the EUR 3.7 billion shortfall recorded in the 12 months up January.

FocusEconomics Consensus Forecast panelists expect the current account deficit to reach 1.0% of GDP in 2015. For 2016, the panel expects the current account deficit to be at 0.7% of GDP.


Author:, Economist

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Finland Current Account Chart


Finland Current Account February 2015

Note: Monthly and 12-month current account balance in EUR billion.
Source: Bank of Finland (BoF).


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