Finland Current Account November 2016


Finland: Current account surplus dwindles in November

January 13, 2017

The current account posted a EUR 195 million surplus in November, according to Statistics Finland. The result was below the EUR 248 million surplus recorded in October but was considerably above the EUR 2 million surplus logged in November 2015.

In the 12 months up to November, the accumulative current account balance recorded a EUR 1.3 billion deficit, an improvement from October’s accumulated current account deficit of EUR 1.5 billion.

The trade balance was EUR 64 million in surplus in November, a stronger reading than both October’s 24 million surplus and the 38 million deficit observed in November of the previous year. On an annual basis, exports jumped 4.3% in November, which was a robust upswing from October’s 5.3% contraction. Imports also turned around, growing 2.0% in November, well above October’s 1.9% drop.

FocusEconomics Consensus Forecast panelists expect the current account to record a deficit of 0.3 of GDP in 2017, which is down 0.2 percentage points from last month’s projection. For 2018, the current account is expected to register a surplus of 0.2% of GDP.

Author:, Economist

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Finland Current Account Chart

Finland Current Account November 2016

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

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