Finland Current Account January 2020

Finland

Finland: Current account slips back into deficit in January

March 13, 2020

The current account dropped to a deficit of EUR 0.2 billion in January, contrasting the EUR 0.8 billion surplus recorded in December and the zero reading from January 2019.

In the 12 months leading up to January, the current account balance logged a shortfall of EUR 0.5 billion, dropping from December’s EUR 0.2 billion deficit which had marked the smallest shortfall in over eight years.

The merchandise trade balance was balanced in January, contrasting the EUR 0.7 billion surplus recorded in both the prior month and in January 2019. Exports slumped 16.6% in January compared with the same month a year earlier, contrasting the 18.4% expansion in December, while imports fell 5.0% this month, having inched down 0.5% in the month prior.

FocusEconomics Consensus Forecast panelists project the current account to record a deficit of 0.9% 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 0.7% of GDP.


Author:, Economist

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Finland Current Account Chart


Finland Current Account January 20 20

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


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