Finland Current Account September 2020

Finland

Finland: Current account records smaller surplus in September

November 13, 2020

The current account recorded a EUR 0.1 billion surplus in September, matching the surplus recorded in September last year, although it inched down from the previous month’s EUR 0.2 billion surplus. In the 12 months leading up to September, the current account recorded a EUR 0.4 billion deficit, down from August’s EUR 0.1 billion deficit.

The merchandise trade reading showed a EUR 0.1 billion surplus in September, down from August’s EUR 0.2 billion surplus, and matching the surplus recorded in September 2019. The result reflects a larger drop in imports than exports, although both decreased at a softer pace than in the prior month.

Meanwhile, the financial account recorded a EUR 3.9 billion net capital inflow in September, up from August’s EUR 2.2 billion net inflow, but down from September 2019’s EUR 9.2 billion net inflow. The reading reflects large inflows from other investments, while outflows were in the form of portfolio investments.

FocusEconomics Consensus Forecast panelists project the current account to record a deficit of 1.6% of GDP in 2021, which is up 0.2 percentage points from last month’s estimate. In 2022, panelists foresee a current account deficit of 1.1% of GDP.


Author:, Junior Economist

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Finland Current Account Chart


Finland Current Account September 20 20

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


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