Sunday 6/20/21
BALANCE OF PAYMENTS

Finland's current account deficit 700 million euros

In March, the goods account in balance of payment terms was in surplus but the service account was in deficit.
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Finland's current account returned to deficit in March, according to Statistics Finland data on balance of payments and international investment position.

The value of goods exports in balance of payments terms increased by 9 per cent year-on-year.

During this period there was net capital outflow from Finland to abroad.

The current account, which records the country's transactions with the rest of the world, was 700 million euros in deficit in March.

The 12-month moving total of the current account was 1.8 billion euros in surplus.

Goods account in surplus

Of the sub-items of the current account, the goods account in balance of payment terms was 200 million euros in surplus.

The value of goods exports in balance of payments terms increased by 9 per cent year-to-year and was 5.7 billion at the same time as the value of goods imports in balance of payments terms increased by 10 per cent year-on-year to 5.6 billion euros.

The service account was in deficit by 400 million.

The value of service exports decreased by 13 per cent year-on-year and was 1.9 billion euros. On the other hand, the value of service imports declined by 12 per cent year-on-year to 2.3 billion.

Current-account-March-2021Source: Statistics Finland.

Financial account

The primary income account was 200 million euros in deficit. The primary income account includes investment income like interests and dividends.The secondary income account was 300 million euros in deficit.

In March net capital outflow from Finland to abroad amounted to 300 million euros.

Of the functional categories of the financial account, which measures international ownership of assets, net capital outflow was highest in the form of portfolio investments, 1.2 billion.

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

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