Finland Current Account

Finland

Finland: Current account deficit widens to year-high in April

June 13, 2014

The current account posted a EUR 975 million deficit in April. The print marked a retreat compared to the EUR 697 million deficit recorded in March and represented the lowest figure in twelve months.

The trade balance registered a deficit of EUR 83 million in April, which contrasted the EUR 66 million surplus recorded in March. Exports contracted 4.9% over the same month last year (March: -3.0% year-on-year) and imports fell 0.5% in April (March: -5.6% yoy).

In the 12 months up to April, the current account balance recorded a EUR 2.4 billion deficit, which marked a moderate improvement over the EUR 2.7 billion shortfall recorded in the 12 months up to March.

FocusEconomics Consensus Forecast panelists expect the current account deficit to reach 0.5% of GDP this year, which is unchanged 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 April 2014

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


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