Saturday 1/16/21
BALANCE OF PAYMENTS

Finland's current account returns to deficit

The value of goods exports in balance of payments terms declined by 6% year-on-year and totaled 5 billion euros.

After three consecutive months of surplus, Finland's current account returned to deficit in November, according to the latest data released by Statistics Finland.

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 (100 million euros) in deficit in November. The 12-month moving total of the current account was 0.2 billion in surplus.

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 declined by 6% year-on-year and totaled 5 billion euros.

The value of goods imports in balance of payments terms declined by 7% year-on-year and totaled 4.7 billion. The service account also recorded a deficit of 0.3 billion euros.

The primary income account was 0.1 billion in surplus. The primary income account includes investment income like interests and dividends. The secondary income account was 0.2 billion euros in deficit.

Financial account

In November, net capital inflow to Finland amounted to 0.4 billion.

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 3.1 billion euros whereas net capital outflow was mainly in the form of other investments, amounting to 2.5 billion.

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