Finland Current Account

Finland

Finland: Current account surplus largest in four-and-a-half years

August 14, 2015

The current account posted a EUR 589 million surplus in June. This result represented an improvement compared to the EUR 163 million shortfall recorded in the same month last year and was the highest reading since December 2010.

The trade balance registered a surplus of EUR 446 million in June, greater than the EUR 100 million surplus recorded in June 2014. On an annual basis, exports fell 0.4%, which was much less pronounced than last month’s revised 11.3% contraction (previously reported: -11.9% year-on-year). Imports contracted 8.0%, which, although drastic, was still an improvement over May’s revised 14.3% decrease (previously reported: -14.6% year-on-year).

In the 12 months up to June, the current account balance recorded a EUR 1.5 billion deficit. The figure represented the smallest average current account deficit since September 2011. The print was up from the EUR 2.3 billion shortfall recorded in the 12 months leading up to May.

FocusEconomics Consensus Forecast panelists expect the current account deficit to reach 1.0% of GDP in 2015. For 2016, the panel expects the current account deficit to be at 0.7% of GDP.


Author:, Economist

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Finland Current Account Chart


Finland Current Account June 2015

Note: Monthly and 12-month current account balance in EUR billion.
Source: Bank of Finland (BoF).


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