The current account was in deficit in March 2023
According to Statistics Finland, the current account was in deficit in March 2023. The value of goods exports in balance of payments terms increased by 11 per cent year-on-year. There was net capital inflow to Finland from abroad.
Key selections
- The current account was in deficit in March.
- The service account was in deficit by EUR 0.9 billion.
- There was net capital inflow to Finland from abroad.
Current account
The current account was EUR 0.6 billion in deficit in March. The 12-month moving total of the current account was EUR 9.3 billion in deficit.
Of the sub-items of the current account, the goods account in balance of payment terms was EUR 0.8 billion in surplus. The value of goods exports in balance of payments terms increased by 11 per cent year-on-year and was EUR 8.0 billion. The value of goods imports in balance of payments terms decreased by 9 per cent year-on-year to EUR 7.2 billion. The service account was in deficit by EUR 0.9 billion. The value of service exports increased by 3 per cent year-on-year and was EUR 2.6 billion. On the other hand, the value of service imports rose by 20 per cent year-on-year to EUR 3.4 billion.
The primary income account was EUR 0.2 billion in deficit. The secondary income account was EUR 0.3 billion in deficit.
Financial account
In March net capital inflow to Finland from abroad amounted to EUR 0.6 billion. Of the functional categories of the financial account, net capital inflow was highest in the form of derivatives, EUR 0.8 billion.
Net capital outflow from Finland was highest in the form of portfolio investments.
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