Finland Current Account


Finland: Current account deficit narrows in May

July 11, 2014

The current account posted a EUR 225 million deficit in May. The print marked a significant retreat compared to the EUR 1.2 billion deficit recorded in April and represented the lowest deficit in six months.

The trade balance registered a surplus of EUR 443 million in May, which contrasted the EUR 201 million deficit recorded in April. Exports grew 8.3% over the same month last year (April: -4.7% year-on-year) and imports rose 3.5% in May (April: +1.2% yoy).

In the 12 months up to May, the current account balance recorded a EUR 4.7 billion deficit, which marked a slight deterioration over the EUR 4.6 billion shortfall recorded in the 12 months up to April.

FocusEconomics Consensus Forecast panelists expect the current account deficit to reach 0.6% of GDP this year, which is down 0.1 percentage points from last month’s forecast. For 2015, the panel expects the current account deficit to be at 0.3% of GDP.

Author: Teresa Kersting, Economist

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Finland Current Account Chart

Finland Current Account May 2014

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

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