The current account was in balance in December 2023
release | Balance of payments and international investment position 2023, DecemberAccording to Statistics Finland, the current account was in balance in December 2023. The value of goods exports in balance of payments terms fell by 19 % year-on-year. There was net capital outflow from Finland to abroad.
Key selections
- The current account was in balance in December 2023.
- The value of goods exports in balance of payments terms fell by 19 % year-on-year.
- The value of goods imports in balance of payments terms fell by 18 % year-on-year.
- The service account was EUR 0.7 billion in deficit.
- There was net capital outflow from Finland to abroad.
Current account
The current account was in balance in December 2023. The 12-month moving total of the current account was EUR 2.8 billion in deficit.
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 fell by 19 % year-on-year and was EUR 6.1 billion. The value of goods imports in balance of payments terms fell by 18 % year-on-year to EUR 5.9 billion. The service account was EUR 0.7 billion in deficit. The value of service exports fell 18 % year-on-year and was EUR 2.9 billion while the value of service imports fell 8 % year-on-year to EUR 3.6 billion.
The primary income account was EUR 0.7 billion in surplus. The secondary income account was EUR 0.2 billion in deficit.
Financial account
In December net capital outflow from Finland to abroad amounted to EUR 6.2 billion. Of the functional categories of the financial account, net capital outflow was highest in the form of other investments (EUR 7.5 billion).
Net capital inflow to Finland was highest in the form of portfolio investments (EUR 1.6 billion).
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