Finland Current Account January 2016


Finland: Current account records deficit in January

March 15, 2016

The current account posted a EUR 86 million deficit in January, according to Statistics Finland. This deficit was wider than the EUR 56 million deficit recorded in the same month last year, and contrasted the revised EUR 27 million surplus recorded in December (previously reported: EUR 191 million deficit.)

The trade balance registered a deficit of EUR 83 million in January, a larger deficit than the EUR 28 million deficit recorded in January 2015, and marking the largest shortfall since July 2014. On an annual basis, exports fell 9.4% in January, which followed the previous month’s 1.0% contraction. Imports decreased 8.0%, contrasting the 1.9% increase recorded in December.

In the 12 months up to January, the current account balance recorded a EUR 300 million surplus. The figure was in line with December’s surplus of EUR 300 million and represents the lowest accumulated current account surplus in seven months.

FocusEconomics Consensus Forecast panelists expect the current account deficit to reach 0.1% of GDP in 2016, which is unchanged from last month’s projection. For 2017, the current account is expected to register a surplus of 0.4% of GDP.

Author:, Economist

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Finland Current Account Chart

Finland Current Account January 2016

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

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