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Published: 13 August 2020

Current account in deficit in June, net capital inflow to Finland

The current account was in deficit in June. The value of exports of goods in balance of payments terms decreased by 7 per cent from twelve months back. Net capital inflow to Finland from 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 0.4 billion 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 EUR 0.3 billion in surplus. The value of goods exports in balance of payments terms declined by 7 per cent year-on-year and totalled EUR 4.8 billion. The value of goods imports in balance of payments terms declined by 10 per cent year-on-year and totalled EUR 4.5 billion. Service exports amounted to EUR 2.0 billion and service imports to EUR 2.2 billion. The service account was therefore in deficit.

More detailed import and export figures in balance of payments terms by service item and area for the second quarter of 2020 are available exceptionally already from 13 August 2020 in the statistics on international trade in goods and services . Decreases and increases made to the Finnish Customs figures, which result in goods trade in balance of payments terms, are also broken down in the statistics on international trade in goods and services.

The primary income account was EUR 0.3 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 June, net capital inflow to Finland amounted to EUR 2.9 billion. Of the sub-items of the financial account, net capital inflow was mostly in the form of other investments, amounting to EUR 3.2 billion whereas net capital outflow was mainly in the form of direct investments, amounting to EUR 1.7 billion.

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

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

Director in charge: Jan Nokkala

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Appendix tables

• Appendix table 1. Balance of payments, monthly, EUR million (13.8.2020)
• Appendix table 2. Current account, monthly, EUR million (13.8.2020)
• Appendix table 3. External assets and liabilities, by investment type, monthly, EUR million (13.8.2020)
• Appendix table 4. Balance of payments, EUR million (13.8.2020)

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Updated 13.8.2020