Finland's current account was in deficit in May.
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 24% from twelve months back. Net capital outflow from Finland to abroad.
The current account, which records the country's transactions with the rest of the world, including the goods and services trade, was €0.6 billion in deficit in May. The 12-month moving total of the current account was €0.7 billion in surplus.
Source: Statistics Finland.
Of the sub-items of the current account, the goods account in balance of payment terms was €0.1 billion in deficit. The value of goods exports in balance of payments terms declined by 24% year-on-year and totalled €4.2 billion.
The value of goods imports in balance of payments terms declined by 23% year-on-year and totalled €4.2 billion. The service account was in surplus.
The primary income account was €0.4 billion in deficit. The primary income account includes investment income like interests and dividends. The secondary income account was €0.2 billion in deficit.
In May, net capital outflow from Finland to abroad amounted to €0.4 billion.
Of the sub-items of the financial account (which measures international ownership of assets), net capital outflow was mostly in the form of other investments, amounting to €5.3 billion whereas net capital inflow was mainly in the form of portfolio investments, amounting to €5.3 billion.