Finland Current Account March 2021

Finland

Finland: Current account swings to deficit in March

May 12, 2021

The current account recorded a EUR 0.7 billion deficit in March, markedly below the EUR 1.1 billion deficit logged in the same month last year and swinging from the EUR 0.2 billion surplus posted in February. In the 12 months leading up to March, the current account recorded a EUR 1.8 billion surplus, which contrasted the EUR 2.4 billion shortfall in March 2020.

The merchandise trade balance posted a EUR 0.2 billion surplus in March, up from the prior month’s EUR 0.1 billion surplus and matching March 2020’s result. The print largely reflected merchandise imports growing faster than goods exports.

Meanwhile, the financial account registered a EUR 0.3 billion net capital outflow in March, easing from the EUR 0.1 billion net outflow logged in March 2020 (February 2021: EUR 39 million net inflow). March’s print chiefly reflected large outflows in portfolio and direct investments.

FocusEconomics Consensus Forecast panelists project the current account to record a deficit of 0.2% of GDP in 2021, which is up 0.6 percentage points from last month’s estimate. In 2022, panelists foresee a current account deficit of 0.1% of GDP.


Author:, Junior Economist

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Finland Current Account Chart


Finland Current Account March 2021

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


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