Finland: Current account registers a substantial shortfall in December
February 14, 2014
The current account posted a EUR 741 million deficit in December. The print contrasted the revised EUR 334 million surplus recorded in November (previously reported: EUR 426 million surplus), which had marked the largest surplus since December 2010.
The trade balance registered a deficit of EUR 356 million in December, which contrasted the revised EUR 341 million surplus recorded in November (previously reported: EUR 313 million surplus). Exports expanded 7.1% over the same month of the previous year (November: -3.8% year-on-year) and imports expanded 1.2% in December (November: -3.3% yoy).
In the 12 months up to December, the current account balance recorded a EUR 1.6 billion deficit, which exceeded the EUR 1.4 billion shortfall recorded in the 12 months up to November.
FocusEconomics Consensus Forecast panelists expect the current account surplus to reach 0.8% of GDP this year, which is unchanged from last month's forecast. For 2015, the panel expects the current account surplus to be at 0.6% of GDP.