Friday. 02.12.2022
BALANCE OF PAYMENTS

Finland's current account in deficit at the beginning of 2021

The value of goods exports in balance of payments terms decreased by 8% year-on-year.
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Photo: Pixabay.

Finland's current account returned to deficit in deficit in January.

According to Statistics Finland's data on balance of payments and international investment position, the value of exports of goods in balance of payments terms decreased by 8% from twelve months back.

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

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 euros in deficit in January. The 12-month moving total of the current account was 1.4 billion euros in surplus.

Value of goods exports declined

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 decreased by 8% year-on-year and totaled 4.7 billion euros.

The value of goods imports in balance of payments terms also declined by 8% year-on-year and totaled 4.5 billion.

The service account was in deficit.

The primary income account was 0.3 billion in surplus. The primary income account includes investment income like interests and dividends. The secondary income account was 0.3 billion in deficit.

Financial account

In January, net capital outflow from Finland amounted to 4.5 billion euros.

Of the sub-items of the financial account, which measures international ownership of assets, net capital outflow was mostly in the form of other investments, amounting to 3.9 billion euros.

Finland's current account in deficit at the beginning of 2021
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