Finland Current Account

Finland

Finland: Current account records mild surplus in August

October 14, 2015

The current account posted a EUR 195 million surplus in August according to Statistics Finland. This result followed the EUR 168 million shortfall recorded in the same month last year.

The trade balance registered a surplus of EUR 97 million in July, up from the EUR 51 million deficit recorded in August 2014. On an annual basis, exports fell 4.5%, which contrasted last month’s revised 0.6% contraction (previously reported: -0.8% year-on-year). Imports contracted 5.7%, which marked an improvement over last month’s 8.6% decrease (previously reported: -9.5% yoy).

In the 12 months up to July, the current account balance recorded a EUR 0.8 billion surplus. The figure was stable with last month’s tally and therefore continues to represent the highest accumulated current account surplus since May 2011.

FocusEconomics Consensus Forecast panelists expect the current account deficit to reach 0.7% of GDP in 2015, which is up 0.4 percentage points from last month’s projection. For 2016, the panel expects the current account deficit to be at 0.5% of GDP, which up 0.5 percentage points from last month’s forecast.


Author:, Economist

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Finland Current Account Chart


Finland Current Account August 2015 1

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


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