Finland Current Account

Finland

Finland: Current account posts deficit in August

October 15, 2014

The current account posted a EUR 21 million deficit in August. The print marked a deterioration compared to the EUR 20 million surplus recorded in the same month last year.

The trade balance registered a surplus of EUR 8 million in August, which contrasted the EUR 38 million deficit recorded in August of last year. Exports contracted 5.2% over the same month last year (July: -1.8% year-on-year) and imports shrunk 6.2% in August (July: -2.0% yoy).

In the 12 months up to August, the current account balance recorded a EUR 4.2 billion deficit (July: EUR 4.1 billion deficit), which marked the largest deficit in almost two years.

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, which is down 0.5 percentage points from the previous month’s forecast.


Author: Angela Bouzanis, Senior Economist

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Finland Current Account Chart


Finland Current Account August 2014 0

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


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