Finland: Current account returns to surplus in February
April 15, 2014
The current account posted a EUR 100 million surplus in February. The print marked an improvement over the revised EUR 283 million deficit recorded in January (previously reported: EUR 376 million deficit).
The trade balance registered a surplus of EUR 134 million in February, which contrasted the revised EUR 170 million deficit recorded in January (previously reported: EUR 251 million deficit). Exports contracted 0.6% over the same month last year (January: -8.6% year-on-year) and imports fell 1.8% in February (January: -7.8% yoy).
In the 12 months up to February, the current account balance recorded a EUR 1.9 billion deficit, which exceeded the EUR 2.1 billion shortfall recorded in the 12 months up to January.
FocusEconomics Consensus Forecast panelists expect the current account surplus to reach 0.5% of GDP this year, which is up 0.3 percentage points from last month's forecast. For 2015, the panel expects the current account surplus to be at 0.2% of GDP.
Author: Armando Ciccarelli, Head of Data Solutions