Finland Current Account

Finland

Finland: Current account surplus narrows in November; exports shrink

January 15, 2015

The current account posted a EUR 326 million surplus in November. The print marked a slight deterioration compared to the EUR 410 million surplus recorded in the same month of the previous year.

The trade balance registered a surplus of EUR 58 million in November, coming in below the EUR 361 million surplus recorded in November 2013. Exports shrunk 5.8% over the same month of the previous year (October: -1.6% year-on-year) and imports rebounded to a 0.7% expansion in November (October: -1.2% yoy).

In the 12 months up to November, the current account balance recorded a EUR 3.0 billion deficit, which was slightly down from the EUR 2.9 billion shortfall recorded in the 12 months up to the previous month.

FocusEconomics Consensus Forecast panelists expect the current account deficit to reach 1.4% of GDP in 2015. For 2016, the panel expects the current account deficit to be at 1.1% of GDP.


Author: Teresa Kersting, Economist

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Finland Current Account Chart


Finland Current Account November 2014

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


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