Finland: Current account surplus shrinks in November
January 15, 2018
According to Statistics Finland, which heavily revised its historical data this month, the current account showed a EUR 0.09 billion surplus in November last year, less than the revised EUR 0.18 billion surplus recorded in October (previously reported: EUR 0.54 billion).
In the 12 months leading up to November, the current account surplus widened to EUR 1.4 billion, compared to October’s revised cumulative 12-month surplus of EUR 1.2 billion (previously reported: EUR 0.18 billion).
The trade surplus narrowed in November against the previous month, recording net inflows worth EUR 181 million compared to October’s revised EUR 284 million surplus (previously reported: EUR 279 million surplus). On an annual basis, exports expanded 12.1% in November, down from the revised year-on-year growth of 14.2% in October (previously reported: +13.4% year-on-year). Import growth moderated from October’s revised 9.3% growth (previously recorded: +8.8% yoy) to 8.2% in November.
Finland Current Account Balance Forecast
FocusEconomics Consensus Forecast panelists expect the current account to record a deficit of 0.2% of GDP in 2018. For 2019, panelists expect a current account surplus of 0.2% of GDP.
Author: Edward Gardner, Economist