Finland Current Account November 2019

Finland

Finland: Current account surplus tightens in November

January 13, 2020

The current account surplus tightened to EUR 0.2 billion in November from a revised EUR 1.0 billion in October (previously reported: EUR 0.5 billion). However, the current account surplus recorded this month was marginally higher than the EUR 0.1 billion surplus recorded in the same month last year.

In the 12 months leading up to November, the current account balance totaled a deficit of EUR 0.8 billion, marking an improvement from the shortfall of EUR 0.9 billion in October.

The merchandise trade balance dropped to a surplus of EUR 0.1 billion in November, down from the EUR 0.4 billion recorded in October 2019 but staying level to the reading from November 2018. Exports tumbled 8.2% in November compared to the same month a year earlier, deteriorating from the 3.3% decrease in October, while imports slumped 9.0% this month, nearly matching the 8.8% decrease in the month prior.

FocusEconomics Consensus Forecast panelists expect the current account to record a deficit of 0.8% of GDP in 2020, which is up 0.2 percentage points from last month’s estimate. In 2021, panelists also expect a current account deficit of 0.8% of GDP.


Author:, Economist

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Finland Current Account Chart


Finland Current Account November 2019

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


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