Finland Current Account

Finland

Finland: Current account swings to surplus in June

August 15, 2014

The current account posted a EUR 293 million surplus in June. The print marked a significant improvement compared to the EUR 134 billion deficit recorded in May and represented the highest surplus since September 2011.

The trade balance registered a surplus of EUR 107 million in June, which came in below the EUR 510 million surplus recorded in May. Exports grew a mild 1.2% over the same month last year (May: +8.7% year-on-year) and imports rose 6.1% in June (May: +2.4% yoy).

In the 12 months up to June, the current account balance recorded a EUR 4.4 billion deficit, which marked a slight improvement over the EUR 4.6 billion shortfall recorded in the 12 months up to May.

FocusEconomics Consensus Forecast panelists expect the current account deficit to reach 0.7% of GDP this year, which is unchanged from last month’s forecast. For 2015, the panel expects the current account deficit to be at 0.4% of GDP.


Author: Teresa Kersting, Economist

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Finland Current Account Chart


Finland Current Account June 2014

Note: Monthly and 12-month current account balance in EUR billion.
Source: Bank of Finland (BoF).


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