Finland: Current account deficit shrinks in February
April 15, 2013
In February, the current account posted a deficit of EUR 158 million, which was smaller than the EUR 415 million deficit observed in January, and represents a significant improvement over the EUR 709 million shortfall recorded in the same month last year.
The trade balance recorded a surplus of EUR 93 million, which contrasts the EUR 212 million deficit seen in January. The result came on the back of a sharp contraction in imports, which dropped 13.2%, contrasting the 5.1% rise recorded in January. In addition exports deteriorated from a 2.6% year-on-year expansion in January to a 3.3% decrease in February.
FocusEconomics Consensus Forecast panellists expect the current account to reach a deficit of EUR 1.6 billion this year before narrowing down to EUR 1.4 billion in 2014.