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Current account posts €0.3b surplus in August

Published : 13 Oct 2020, 19:31

Updated : 14 Oct 2020, 02:31

  DF Report

Photo Lapland Material Bank by Terhi Tuovinen.

The current account was in surplus in August, according to the Statistics Finland.

The value of exports of goods in balance of payments terms decreased by 10 per cent from twelve months back. The current account was EUR 0.3 billion in surplus in August. The 12-month moving total of the current account was EUR 0.4 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 declined by 10 per cent year on year and totalled EUR 4.6 billion.

The value of goods imports in balance of payments terms declined by 16 per cent year on year and totalled EUR 4.4 billion. Service exports amounted to EUR 1.9 billion and service imports to EUR 2.0 billion. The service account was therefore in deficit.

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

In August, net capital inflow to Finland amounted to EUR 0.3 billion. Of the sub-items of the financial account, net capital inflow was mostly in the form of portfolio investments, amounting to EUR 4.2 billion, whereas net capital outflow was mainly in the form of other investments, amounting to EUR 1.8 billion