Finland Current Account August 2020


Finland: Current account records surplus in August

October 13, 2020

The current account recorded a EUR 0.3 billion surplus in August, matching the surplus recorded in August last year, and swinging from the EUR 0.1 billion deficit recorded in the prior month. In the 12 months leading up to August 2020, the current account recorded a EUR 0.4 billion surplus, down from July’s EUR 0.5 billion surplus.

The merchandise trade reading showed a EUR 0.2 billion surplus in August, up from July’s balanced print, and swinging from the EUR 0.1 billion deficit recorded in August 2019. The result reflects a larger drop in imports than exports, while both decreased at sharper rates than in the previous month.

FocusEconomics Consensus Forecast panelists project the current account to record a deficit of 1.8% of GDP in 2020, which is unchanged from last month’s estimate. In 2021, panelists foresee a current account deficit of 1.2% of GDP, which is up 0.2 percentage points from last month’s forecast.

Author:, Junior Economist

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Finland Current Account Chart

Finland Current Account August 20 20

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

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