Finland Current Account December 2020

Finland

Finland: Current account surplus hits multi-year high in December

February 12, 2021

The current account recorded a EUR 2.0 billion surplus in December, increasing from the EUR 1.5 billion surplus recorded in the same month last year and from the EUR 0.4 billion surplus clocked in November. December’s result marked the highest surplus since October 2009. In the 12 months leading up to December, the current account recorded a EUR 1.9 billion surplus, up from EUR 1.3 billion in the month prior.

The merchandise trade print recorded a EUR 1.4 billion surplus in December, up from December 2019’s EUR 1.0 billion surplus and markedly above the EUR 0.3 billion surplus from the month prior. The result reflected an increase in exports over the previous month, while imports remained stable.

Meanwhile, the financial account recorded a EUR 0.6 billion net capital inflow in December, down from December 2019’s EUR 0.9 billion net inflow, but up from the EUR 0.4 billion net inflow clocked in November. The reading reflected inflows in the form of direct investments, offset by outflows in portfolio investments.

FocusEconomics Consensus Forecast panelists project the current account to record a deficit of 0.8% 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 0.6% of GDP.


Author:, Junior Economist

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Finland Current Account Chart


Finland Current Account December 20 20

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


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