Finland Current Account November 2020


Finland: Current account swings to deficit in November

January 12, 2021

The current account recorded a EUR 0.1 billion deficit in November, swinging from the EUR 0.3 billion surplus recorded the same month last year and from the EUR 0.4 billion surplus clocked in October. In the 12 months leading up to November, the current account recorded a EUR 0.2 billion surplus, notably down from the month prior.

The merchandise trade print recorded a EUR 0.3 billion surplus in November, matching November 2019’s surplus, and down from October’s EUR 0.4 billion surplus. The result reflects a decrease in exports and a milder decrease in imports over the month prior.

Meanwhile, the financial account recorded a EUR 0.4 billion net capital inflow in November, down from November 2019’s EUR 2.7 billion new inflow, and from the EUR 5.8 billion net inflow recorded in October. The reading reflected large inflows from portfolio investments, which were partly offset by outflows 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 unchanged from last month’s estimate. In 2022, panelists foresee a current account deficit of 1.0% of GDP.

Author:, Junior Economist

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Finland Current Account Chart

Finland Current Account November 20 20 0

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

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