Finland Current Account May 2017


Finland: Current account surplus widens in May on the back of surging exports

July 14, 2017

Finland´s current account recorded a surplus in May, improving on the previous month’s result. According to Statistics Finland, May’s current account surplus stood at EUR 1.0 billion, up from April’s EUR 0.4 billion surplus. This marks the largest surplus since September 2014.

In the 12 months up to May, the current account surplus totaled EUR 1.5 billion, improving on April’s balanced current account.

The trade balance also improved. May saw a EUR 48 million surplus in the trade balance, contrasting April’s EUR 80 million deficit. On an annual basis, exports grew 24.5% in May, a notable acceleration from April’s 3.7% increase. Imports also accelerated, growing 15.6% in May, above the previous month´s 5.3% rise.

FocusEconomics Consensus Forecast panelists expect the current account to record a deficit of 0.7% of GDP in 2017, which is unchanged from last month’s projection. For 2018, panelists expect a current account deficit of 0.4% of GDP.

Author:, Economist

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Finland Current Account Chart

Finland Current Account May 2017

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

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