Thursday. 23.05.2024

Finland's current account continued in deficit in June.

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 7% from twelve months back. Net capital inflow to Finland from abroad.Current-account-JuneSource: Statistics Finland.

Current account

The current account, which records the country's transactions with the rest of the world, including the goods and services trade, was 0.4 billion euros in deficit in June. The 12-month moving total of the current account was in balance.

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 7% year-on-year and totaled 4.8 billion euros.

The value of goods imports in balance of payments terms declined by 10% year-on-year and totaled 4.5 billion euros. Service exports amounted to 2 billion euros and service imports to 2.2 billion euros. The service account was therefore in deficit.

Financial account

In June, net capital inflow to Finland amounted to 2.9 billion euros.

Of the sub-items of the financial account (which measures international ownership of assets), net capital inflow was mostly in the form of other investments, amounting to 3.2 billion euros whereas net capital outflow was mainly in the form of direct investments, amounting to 1.7 billion euros.

Current account in deficit of 0.4 billion