Current Account in Finland

Finland Current Account | Economic News & Forecasts

Finland - Current Account

Current account surplus widens in October

The current account surplus widened to EUR 0.5 billion in October from a revised EUR 0.3 billion in September (previously reported: EUR 0.5 billion). However, the current account surplus recorded in October was lower than the EUR 0.7 billion surplus recorded in the same month last year.

In the 12 months leading up to October, the current account balance totaled a deficit of EUR 1.4 billion, marking a deterioration from the shortfall of EUR 1.2 billion in September.

The merchandise trade balance improved to a surplus of EUR 0.3 billion in October, up from the EUR 0.1 billion recorded in both September 2019 and October 2018. Exports fell 3.3% in October compared to the same month a year earlier, contrasting the 4.6% increase in September, while imports slumped 7.1% this month, contrasting the 3.6% increase in the month prior.

FocusEconomics Consensus Forecast panelists expect the current account to record a deficit of 1.0% of GDP in 2020, which is from last month’s estimate. In 2021, panelists expect a current account deficit of 0.9% of GDP.

Finland - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-1.9  -1.5  -0.7  -0.7  -0.7  

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Finland Current Account Chart


Finland Current Account
Note: Current account balance as % of GDP.
Source: Bank of Finland.

Finland Facts

ValueChangeDate
Bond Yield0.033.70 %Dec 30
Exchange Rate8.78-0.38 %Jan 01

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Economic News

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    December 13, 2019

    Economic activity grew a working-day adjusted 1.5% in October from the same month a year earlier, down from September’s revised 2.1% reading (previously reported: +0.8% year-on-year), according to Statistics Finland’s latest monthly Trend Indicator of Output release. The moderation in October came on the back of decreased activity in the primary sector—encapsulating agriculture, forestry and fishing sub-sectors—which slumped this month and thus weighed on the overall reading.

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    The current account surplus widened to EUR 0.5 billion in September from EUR 0.2 billion in August.

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