Saturday 10/16/21
BALANCE OF PAYMENTS

Finland current account in surplus 0.6 billion

The service account was in deficit
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Photo: Pixabay.

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

In this period the value of goods exports in balance of payments terms increased by 26% year-on-year and there was net capital inflow to Finland from abroad.

The current account, which records the country's transactions with the rest of the world, was 0.6 billion euros in surplus in July. The 12-month moving total of the current account was 4.3 billion euros in surplus.

Of the sub-items of the current account, the goods account in balance of payment terms was 0.2 billion euros in surplus. The value of goods exports in balance of payments terms increased by 26% year-on-year and was 5.7 billion euros.

At the same time, the value of goods imports in balance of payments terms increased by 18% to 5.5 billion euros.

The service account was in deficit.

Financial account

The primary income account, which includes investment income like interests and dividends, was 0.8 billion euros in surplus. At the same time the secondary income account was 0.2 billion euros in deficit.

In July net capital inflow to Finland from abroad amounted to 1.3 billion euros.

Of the functional categories of the financial account, net capital inflow was highest in the form of portfolio investments, 2.6 billion euros.

Net capital outflow from Finland was highest in the form of other investments.

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