Wednesday 9/23/20
BALANCE OF PAYMENTS

Current account in deficit 0.1 billion

The goods account in balance of payment terms was in balance, but the service account was in deficit.
Current account in deficit 0.1 billion

Finland's current account was again in deficit in July.

According to Statistics Finland's data on balance of payments and international investment position, the value of exports of goods in balance of payments terms decreased by 9% from twelve months back. There was a net inflow of capital into Finland from abroad.

Current account

The current account, which records the country's transactions with the rest of the world, including the goods and services trade, was 0.1 billion euros in deficit in July. The 12-month moving total of the current account was 0.2 billion euros in deficit.

Of the sub-items of the current account, the goods account in balance of payment terms was in balance. The value of goods exports in balance of payments terms declined by 9% year on year and totaled 4.6 billion euros. The value of goods imports in balance of payments terms declined by 11% and totaled 4.6 billion euros.

Service exports amounted to 1.9 billion euros and service imports to 2.2 billion euros. The service account was therefore in deficit.

Current-account-goods-services-July-2020

Source: Statistics Finland.

Financial account

The primary income account was 0.5 billion euros in surplus. The primary income account includes investment income like interests and dividends. The secondary income account was 0.2 billion euros in deficit.

In July, net capital inflow to Finland amounted to 2.2 billion euros.

Of the sub-items of the financial account (which measures international ownership of assets), net capital inflow was mostly in the form of portfolio investments, amounting to 2 billion euros whereas net capital outflow was mainly in the form of financial derivatives, amounting to 1.0 billion euros.

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