Finland: Current account falls back to deficit in March
May 15, 2014
The current account posted a EUR 509 million deficit in March. The print marked a retreat compared to the EUR 87 million surplus recorded in February and represented the lowest figure in three months. The trade balance registered a surplus of EUR 90 million in March, which was below the EUR 126 million surplus recorded in February. Exports contracted 3.3% over the same month last year (February: -0.6% year-on-year) and imports fell 6.4% in March (February: -1.6% yoy). In the 12 months up to March, the current account balance recorded a EUR 2.0 billion deficit, which slightly exceeded the EUR 1.9 billion shortfall recorded in the 12 months up to February. 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 0.2% of GDP.
Author: Armando Ciccarelli, Head of Data Solutions