Current Account in Finland
Finland - Current Account (billions of Euros)
Current account deficit shrinks in May
The current account recorded a EUR 1.6 billion deficit in May, improving from the EUR 2.3 billion deficit booked in April (May 2021: EUR 0.2 billion surplus). Meanwhile, the 12-month trailing current account deficit deepened, coming in at EUR 3.2 billion in May (April: EUR 1.5 billion deficit).
The merchandise trade balance remained unchanged from the previous month, recording a EUR 0.2 billion shortfall in May (April 2022: EUR 0.2 billion deficit). Merchandise exports jumped 30.9% in annual terms in May, following April’s 27.0% jump. Meanwhile, merchandise imports jumped 46.2% over the same month last year in May (April: +34.2% yoy), marking the strongest reading since December 2021.
Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 0.4 billion surplus in May, compared to the USD 1.1 billion surplus in April.
FocusEconomics Consensus Forecast panelists see a deficit of 0.4% of GDP in 2022, which is down 0.1 percentage points from last month’s forecast. In 2023, panelists project a deficit of 0.2% of GDP.
Finland - Current Account (EUR bn) Data
|Current Account Balance (EUR bn)||-2.0||-4.4||-1.7||-3.8||-1.8|
5 years of economic forecasts for more than 30 economic indicators.
Finland Current Account (EUR bn) Chart
Source: Bank of Finland.
|Bond Yield||0.03||3.70 %||Dec 30|
|Exchange Rate||8.78||-0.38 %||Jan 01|
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July 15, 2022
Economic activity dropped 0.2% month on month in seasonally-adjusted terms in May (April: +0.5% mom).
July 14, 2022
Consumer prices rose 0.72% in June over the previous month, a smaller increase than May's 1.31% increase.
July 12, 2022
The current account recorded a EUR 1.6 billion deficit in May, improving from the EUR 2.3 billion deficit booked in April (May 2021: EUR 0.2 billion surplus).
June 14, 2022
Consumer prices increased 1.31% over the previous month in May, accelerating from the 0.32% rise logged in April.
May 17, 2022
Economic activity rose 5.4% year-on-year in working-day adjusted terms in March, which was above February's 3.6% increase.