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Current account posts €0.6b deficit in May

Published : 13 Jul 2020, 20:14

Updated : 14 Jul 2020, 10:50

  DF Report

Photo Lapland Material Bank by Terhi Tuovinen.

The current account was EUR 0.6 billion in deficit in May. The value of exports of goods in terms of balance of payments decreased by 24 per cent from that posted in the corresponding month in 2019.

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

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.