The current account was in surplus in the third quarter of 2024

Current account and capital account

In the third quarter of 2024, the current account showed a surplus of EUR 2.3 billion. The balance of goods and services was EUR 1.2 billion in surplus. Of the sub-items of the current account, the primary income account was EUR 1.6 billion in surplus and the secondary income account was EUR 0.5 billion in deficit. The 4-quarter moving total of the current account was EUR 1.1 billion in surplus.

The capital account was EUR 0.1 billion in surplus in the third quarter of 2024.

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Goods and services

The goods account in balance of payment terms was EUR 1.8 billion in surplus in the third quarter of 2024. Surplus remained at the same level from previous year. The service account was EUR 0.6 billion in deficit.

The value of both goods exports and imports in balance of payments terms fell by 1 % year-on-year. The value of goods exports was EUR 19.5 billion and the value of imports amounted to EUR 17.7 billion. The value of service exports in balance of payments terms grew by 16 % year-on-year and was EUR 9.4 billion. The value of service imports in balance of payments terms grew by 2 % year-on-year to EUR 10.1 billion.

More detailed import and export figures in balance of payments terms by service item and area can be found in the statistics on international trade in goods and services starting from 2015. Decreases and increases made to the Finnish Customs figures, which result in goods trade in balance of payments terms are also elaborated in the statistics on international trade in goods and services.

Primary and secondary income accounts

A total of EUR 1.6 billion were paid in primary income on net to Finland in the third quarter of 2024. Primary income paid to Finland from abroad was EUR 7.5 billion while primary income paid from Finland to abroad was EUR 5.9 billion.

The majority of primary income was in the form of investment income. In the third quarter of 2024 net investment income paid to Finland amounted to EUR 1.5 billion. Investment income paid to Finland from abroad was EUR 7.1 billion and investment income paid abroad from Finland was EUR 5.6 billion.

The secondary income account was EUR 0.5 billion in deficit.

Net international investment position

In the third quarter of 2024, Finland had EUR 969.8 billion in gross foreign assets and EUR 915.8 billion in gross foreign liabilities. The net international investment position, i. e. the difference between the stock of assets and liabilities was EUR 54.0 billion. The net international investment position strengthened from the previous quarter by EUR 7.4 billion.

Examined by type of investment, the majority of foreign assets were in the form of portfolio investments in the third quarter of 2024 (EUR 497.5 billion). Respectively, the share of portfolio investments was also highest in foreign liabilities (EUR 504.8 billion).

When examining the net international investment position by type of investment, it can be seen that the biggest net assets were in direct investments (EUR 59.0 billion). Correspondingly, the largest net liabilities can be found in other investments (EUR 8.2 billion).

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Financial account

Net capital outflow from Finland to abroad amounted to EUR 1.5 billion in the third quarter. Of the functional categories of the financial account, net capital outflow was highest in the form of other investments (EUR 5.3 billion). Net capital inflow to Finland was highest in the form of portfolio investments (EUR 7.8 billion).

Net international investment position by sector

Looking into the net international investment position by sector, net assets exceeding EUR 50 billion were held by employment pension schemes (EUR 209.3 billion), collective investment schemes, excl. money market funds (EUR 88.0 billion) and central bank (EUR 72.8 billion). Correspondingly, net foreign liabilities surpassing EUR 50 billion were held by other monetary financial institutions (EUR 167.0 billion), central government (EUR 99.9 billion) and nonfinancial corporations (EUR 82.2 billion).