Finland: Current account surplus logged for seventh consecutive month in January

According to Statistics Finland, the current account was in a surplus of EUR 0.27 billion in January, lower than December’s upwardly-revised EUR 0.40 billion surplus (previously recorded: EUR 0.06 billion deficit). Moreover, January’s current account balance was lower than in the same month last year (surplus of EUR 0.29 billion). Despite the deterioration in January, however, the current account balance was in a surplus for the seventh month in a row.

In the 12 months leading up to January, the current account surplus remained steady at EUR 1.6 billion, identical to December’s figure.

The trade balance improved in January, rising from a deficit of EUR 3 million in December to a surplus of EUR 256 million. On an annual basis, exports grew 10.0% in January, up significantly from December’s 2.3% growth. There was a 6.8% increase in imports in January, a swing from December’s 3.3% decline.

Finland Current Account Forecast

FocusEconomics Consensus Forecast panelists expect the current account to record a surplus of 0.2% of GDP in 2018. For 2019, panelists expect a current account surplus of 0.4% of GDP.