Finland Current Account April 2016


Finland: Exports fall and current account deficit widens in April

June 15, 2016

The current account posted a EUR 702 million deficit in April, according to Statistics Finland, marking the lowest reading in a year. April’s result was up from the EUR 1.3 billion deficit recorded in the same month last year, but it was much larger than the EUR 129 million deficit recorded in March.

The trade balance registered a deficit of EUR 47 million in April, coming in below the EUR 12 million deficit recorded in March. On an annual basis, exports fell 10.9% in April, which followed the previous month’s lesser 10.2% contraction. Imports rebounded from March’s 7.5% drop to a 4.0% increase in April.

In the 12 months up to April, the current account balance recorded a EUR 1.0 billion surplus, which was the highest accumulated current account reading in five years. April’s figure followed March’s EUR 400 million surplus.

FocusEconomics Consensus Forecast panelists expect the current account deficit to reach 0.2% 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 April 2016 0

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

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