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Published: 12 May 2021

Current account in deficit in March, net capital outflow from Finland to abroad

The current account was in deficit in March. The value of goods exports in balance of payments terms increased by 9 per cent year-on-year. 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 0.7 billion in deficit in March. The 12-month moving total of the current account was EUR 1.8 billion in surplus.

Of the sub-items of the current account, the goods account in balance of payment terms was EUR 0.2 billion in surplus. The value of goods exports in balance of payments terms increased by 9 per cent year-to-year and was EUR 5.7 billion at the same time as the value of goods imports in balance of payments terms increased by 10 per cent year-on-year to EUR 5.6 billion. The service account was in deficit by EUR 0.4 billion. The value of service exports decreased by 13 per cent year-on-year and was EUR 1.9 billion. On the other hand, the value of service imports declined by 12 per cent year-on-year to 2.3 billion.

More detailed import and export figures in balance of payments terms by service item and area for the first quarter of 2021 are available exceptionally already from 12 May 2021 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 0.2 billion in deficit. The secondary income account was EUR 0.3 billion in deficit.

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

Financial account

In March net capital outflow from Finland to abroad amounted to EUR 0.3 billion. Of the functional categories of the financial account, net capital outflow was highest in the form of portfolio investments, EUR 1.2 billion. Net capital inflow to Finland was highest in the form of other investments.

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

Inquiries: Hanna Björklund 029 551 3296, Risto Sippola 029 551 3383, balanceofpayments@stat.fi.

Head of Department in charge: Katri Kaaja

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Appendix tables

• Appendix table 1. Balance of payments, monthly, EUR million (12.5.2021)
• Appendix table 2. Current account, monthly, EUR million (12.5.2021)
• Appendix table 3. External assets and liabilities, by investment type, monthly, EUR million (12.5.2021)
• Appendix table 4. Balance of payments, EUR million (12.5.2021)

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Updated 12.05.2021