Finland: Current account logs smaller deficit in April
June 11, 2021
The current account recorded a EUR 0.6 billion deficit in April, below the EUR 0.4 billion deficit logged in the same month last year and slightly above the EUR 0.7 billion deficit posted in March. In the 12 months leading up to April, the current account recorded a EUR 1.6 billion surplus, above the EUR 1.5 billion surplus of April 2020.
The merchandise trade balance posted a EUR 0.1 billion surplus in April, down from the prior month’s EUR 0.2 billion surplus and also below April 2020’s EUR 0.6 billion surplus. The print largely reflected imports growing at a faster pace than exports.
Meanwhile, the financial account registered a EUR 2.7 billion net capital outflow in April, contrasting the EUR 1.6 billion net inflow logged in April 2020 (March 2021: EUR 0.3 billion net outflow). April’s print chiefly reflected large outflows in portfolio investments.
Author: Marta Casanovas , Junior Economist