Finland Current Account October 2020

Finland

Finland: Current account surplus widens in October

December 11, 2020

The current account recorded a EUR 0.5 billion surplus in October, matching the surplus recorded in October last year, and increasing from September’s EUR 0.1 billion surplus. In the 12 months leading up to October, the current account recorded a EUR 0.4 billion deficit, matching September’s reading.

The merchandise trade print recorded a EUR 0.4 billion surplus in October, matching October 2019’s surplus, and up from September’s EUR 0.1 billion surplus. The result reflects an increase in exports and a slight decrease in imports over the month prior.

Meanwhile, the financial account recorded a EUR 5.5 billion net capital inflow in October, down from the EUR 9.2 billion net inflow recorded in October last year, but markedly up from September’s EUR 3.9 billion net inflow. The reading reflects large inflows from portfolio investments, while outflows were in the form of direct investments.

FocusEconomics Consensus Forecast panelists project the current account to record a deficit of 1.0% of GDP in 2021, which is up 0.1 percentage points from last month’s estimate. In 2022, panelists foresee a current account deficit of 1.1% of GDP.


Author:, Junior Economist

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Finland Current Account Chart


Finland Current Account October 20 20

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


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