Finland Current Account September 2022

Finland

Finland: Current account swings to surplus in September

November 11, 2022

The current account posted a EUR 0.4 billion surplus in September, rebounding from the EUR 0.5 billion deficit posted in August (September 2021: EUR 1.0 billion surplus). Meanwhile, the 12-month trailing current account deficit grew, coming in at EUR 9.5 billion in September (August: EUR 8.9 billion deficit).

The merchandise trade balance improved from the previous month, recording a EUR 0.4 billion surplus in September (August 2022: EUR 0.4 billion deficit). Merchandise exports grew 12.0% on an annual basis in September, on the heels of August’s 32.4% jump. September’s result marked the slowest expansion since March 2021. Meanwhile, merchandise imports growth softened to 19.1% on an annual basis in September (August: +40.0% yoy), marking the weakest result since March 2021.

FocusEconomics Consensus Forecast panelists see a deficit of 0.6% of GDP in 2023, which is down 0.1 percentage points from last month’s forecast. In 2024, panelists project a deficit of 0.1% of GDP.


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Finland Current Account Chart


Finland Current Account September 2022

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


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