Finland Current Account June 2016


Finland: Current account deficit narrows in June

August 15, 2016

The current account posted a EUR 219 million deficit in June according to Statistics Finland. The result contrasted the 382 million surplus recorded in the same month last year, but came in above the EUR 364 million deficit recorded in May.

The trade balance registered a surplus of EUR 506 million in June, which marked the largest surplus in over a year and far exceeded the EUR 48 million surplus recorded in May. On an annual basis, exports increased 5.1% in June, which marked the fastest pace of growth in over a year and contrasted the previous month’s 6.4% contraction. Imports expanded at a slower pace, decelerating from 5.3% growth in May to a 2.7% increase in June.

In the 12 months up to June, the accumulative current account balance recorded a EUR 200 million surplus, which was below the accumulated current account reading in May of a EUR 800 million surplus.

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

Author: Teresa Kersting, Economist

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Finland Current Account Chart

Finland Current Account June 2016 0

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

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