Finland Current Account August 2016


Finland: Current account deficit narrows in August

October 14, 2016

The current account posted a EUR 166 million deficit in August, according to Statistics Finland. The result contrasted the EUR 151 million surplus recorded in the same month last year but came in above July’s EUR 442 million deficit.

The trade balance was EUR 301 million in deficit in August, which followed July’s smaller EUR 28 million deficit. On an annual basis, exports fell 2.4% in August, which followed July’s steeper 10.5% decline. Imports rebounded to a 3.2% expansion from July’s 6.5% decrease.

In the 12 months up to August, the accumulative current account balance recorded a EUR 1.9 billion deficit, which exceeded July’s accumulated current account deficit of EUR 1.6 billion.

FocusEconomics Consensus Forecast panelists expect the current account to be balanced in 2016, which is unchanged from last month’s projection. For 2017, the current account is expected to register a surplus of 0.2% of GDP, which is also unchanged from last month’s estimate.

Author: Teresa Kersting, Economist

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Finland Current Account Chart

Finland Current Account August 2016 0

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

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