Finland Current Account March 2016


Finland: Exports drop and current account deficit widens in March

May 13, 2016

The current account posted a EUR 136 million deficit in March, according to Statistics Finland. This result marked the lowest reading in almost a year, coming in below the EUR 116 million deficit recorded in the same month last year and contrasting the EUR 109 million surplus recorded in February.

The trade balance registered a surplus of EUR 28 million in March, falling short of the the EUR 133 million surplus recorded in February. On an annual basis, exports fell 9.8% in March, which followed the previous month’s softer 2.4% contraction. Imports decreased 7.9%, a more severe contraction compared to February’s 5.2% fall.

In the 12 months up to March, the current account balance recorded a EUR 400 million surplus. The figure mirrored February’s print, which had represented the highest accumulated current account reading in three months.

FocusEconomics Consensus Forecast panelists expect the current account deficit to reach 0.1% of GDP in 2016, which is unchanged from last month’s projection. For 2017, the current account is expected to register a surplus of 0.2% of GDP.

Author: Teresa Kersting, Economist

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Finland Current Account Chart

Finland Current Account March 2016

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

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