Saturday 11/28/20
BALANCE OF PAYMENTS

Current account in surplus 100 million euros

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

Finland's current account, which records the country's transactions with the rest of the world, including the goods and services trade, was 0.1 billion (100 million) euros in surplus in August. The 12-month moving total of the current account was 0.4 billion euros in deficit.

Of the sub-items of the current account, the goods account in balance of payment terms was 0.1 billion euros in surplus. The value of goods exports in balance of payments terms declined by 7% year-on-year and totaled 5 billion euros.

The value of goods imports in balance of payments terms declined by 8% year-on-year and totaled 4.9 billion euros.

Service exports amounted to 1.8 billion euros and service imports to 2.1 billion. The service account was therefore in deficit

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.

Current-account-goods-services-September-2020Source: Statistics Finland.

Financial account

In September, net capital inflow to Finland amounted to 3.9 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 other investments, amounting to 8.6 billion euros whereas net capital outflow was mainly in the form of portfolio investments, amounting to 4.4 billion.

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