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Published: 13 July 2020

Current account in deficit in May, net capital outflow from Finland

The current account was in deficit in May. The value of exports of goods in balance of payments terms decreased by 24 per cent from twelve months back. Net capital outflow from Finland to abroad. The data appear from Statistics Finland's statistics on balance of payments and international investment position.

Current account and goods and services account

Current account

The current account was EUR 0.6 billion in deficit in May. The 12-month moving total of the current account was EUR 0.7 billion in surplus.

Of the sub-items of the current account, the goods account in balance of payment terms was EUR 0.1 billion in deficit. The value of goods exports in balance of payments terms declined by 24 per cent year-on-year and totalled EUR 4.2 billion. The value of goods imports in balance of payments terms declined by 23 per cent year-on-year and totalled EUR 4.2 billion. The service account was in surplus.

The primary income account was EUR 0.4 billion in deficit. The primary income account includes investment income like interests and dividends. The secondary income account was EUR 0.2 billion in deficit.

Current account and goods and services account, 12 –month moving total

Financial account

In May, net capital outflow from Finland to abroad amounted to EUR 0.4 billion. Of the sub-items of the financial account, net capital outflow was mostly in the form of other investments, amounting to EUR 5.3 billion whereas net capital inflow was mainly in the form of portfolio investments, amounting to EUR 5.3 billion.

Source: Balance of payments and international investment position, Statistics Finland

Inquiries: Reetta Karinluoma 029 551 3077, Johannes Nykänen 029 551 3641, balanceofpayments@stat.fi.

Director in charge: Jan Nokkala

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Appendix tables

• Appendix table 1. Balance of payments, monthly, EUR million (13.7.2020)
• Appendix table 2. Current account, monthly, EUR million (13.7.2020)
• Appendix table 3. External assets and liabilities, by investment type, monthly, EUR million (13.7.2020)
• Appendix table 4. Balance of payments, EUR million (13.7.2020)

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Updated 13.7.2020