Friday 9/17/21
BALANCE OF PAYMENTS

Finland's current account in surplus 0.7 billion

The value of goods exports in balance of payments terms increased by 16% year-on-year
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Photo: Pixabay.

Finland's current account was 0.7 billion euros in surplus in June, according to Statistics Finland's data on balance of payments and international investment position.

The value of goods exports in balance of payments terms increased by 16% year-on-year. During this period there was net capital outflow from Finland to abroad.

The 12-month moving total of the current account was 3.9 billion euros in surplus.

The current account, which records the country's transactions with the rest of the world, was 0.7 billion euros in surplus in June.

Of the sub-items of the current account, the goods account in balance of payment terms was 0.3 billion euros in surplus.

The value of goods exports in balance of payments terms increased by 16% year-on-year and was 5.6 billion euros at the same time as the value of goods imports in balance of payments terms increased by 17% year-on-year to 5.3 billion euros.

Service account

The service account was 0.2 billion euros in deficit.

The value of service exports increased by 8% year-on-year and was 2.1 billion euros. On the other hand, the value of service imports rose by 4% year-on-year to 2.3 billion.

The primary income account, which includes investment income like interests and dividends, was 0.9 billion euros in surplus. The secondary income account was 0.2 billion euros in deficit.

Financial account

In June net capital outflow from Finland to abroad amounted to 0.9 billion euros.

Of the functional categories of the financial account, net capital outflow was highest in the form of portfolio investments, 2.0 billion euros.

Net capital inflow to Finland was highest in the form of other investments.

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