Finland Current Account July 2020

Finland

Finland: Current account records lower deficit in July

September 11, 2020

The current account recorded a EUR 0.1 billion deficit in July, swinging from the EUR 0.1 billion surplus recorded in July last year. In the 12 months leading up to July 2020, the current account recorded a EUR 0.2 billion deficit, following June’s balanced figure.

The merchandise trade reading was balanced in July, compared to the EUR 0.2 billion deficit recorded in July 2019. Exports dived 8.8% in July compared to the same month last year, worsening from last month’s minus 6.8% reading, while imports dropped at an even faster pace of 10.8%, also worsening from June’s 10.1% fall.

FocusEconomics Consensus Forecast panelists project the current account to record a deficit of 1.8% of GDP in 2020, which is down 0.1 percentage points from last month’s estimate. In 2021, panelists foresee a current account deficit of 1.4% of GDP, which is unchanged from last month’s forecast.


Author:, Junior Economist

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Finland Current Account Chart


Finland Current Account July 20 20

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


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