Finland Current Account


Finland: Current account deficit widens in July

September 15, 2014

The current account posted a EUR 765 million deficit in July. The print marked a deterioration compared to the EUR 59 million deficit recorded in June and represented the largest deficit since April.

The trade balance registered a deficit of EUR 101 million in July, which contrasted the EUR 133 million surplus recorded in June. Exports contracted 1.8% over the same month last year (June: +2.9% year-on-year) and imports shrunk 3.8% in July (June: +7.2% yoy).

In the 12 months up to July, the current account balance recorded a EUR 4.0 billion deficit, which marked a slight deterioration over the EUR 3.3 billion shortfall recorded in the 12 months up to June.

FocusEconomics Consensus Forecast panelists expect the current account deficit to reach 0.9% of GDP this year, which is down 0.2 percentage points from last month’s forecast. For 2015, the panel expects the current account deficit to be at 0.7% of GDP.

Author: Teresa Kersting, Economist

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Finland Current Account Chart

Finland Current Account July 2014

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

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