Finland Current Account June 2017


Finland: Current account plunges to a deficit in June

August 15, 2017

Finland´s current account swung to a deficit in June, deteriorating from May’s revised EUR 0.5 billion surplus (previously reported: EUR 1.2 billion surplus) to a EUR 0.3 billion deficit. The spike in May had represented the largest surplus since September 2014.

In the 12 months leading up to June, the current account surplus totaled EUR 1.0 billion, remaining on par with May.

The trade balance deteriorated somewhat. June saw a EUR 24.9 million surplus, representing a decrease from May’s EUR 48.4 million surplus. On an annual basis, exports grew 2.0% in June, a notable deceleration from May’s 25.3% increase. Imports also decelerated, growing 8.1% in June, below the previous month’s 16.4% rise.

FocusEconomics Consensus Forecast panelists expect the current account to record a deficit of 0.8% of GDP in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, panelists expect a current account deficit of 0.6% of GDP.

Author:, Economist

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Finland Current Account Chart

Finland Current Account June 2017

Note: Monthly and 12-month current account balance in EUR billion.
Source: Statistics Finland.

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