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The current account was in deficit in March 2024

release | Balance of payments and international investment position 2024, March

According to Statistics Finland, the current account was in deficit in March 2024. The value of goods exports in balance of payments terms fell by 36 % year-on-year. There was net capital outflow from Finland to abroad.

Key selections

  • The current account was in deficit in March 2024.
  • The balance of goods and services showed a deficit of EUR 1.0 billion.
  • The value of goods exports in balance of payments terms fell by 36 % year-on-year.
  • The value of goods imports in balance of payments terms fell by 24 % year-on-year.
  • There was net capital outflow from Finland to abroad.

Current account

The current account was EUR 1.1 billion in deficit in March 2024. The 12-month moving total of the current account was EUR 4.5 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 deficit. The value of goods exports in balance of payments terms fell by 36 % year-on-year and was EUR 5.2 billion. The value of goods imports in balance of payments terms fell by 24 % year-on-year to EUR 5.5 billion. The service account was EUR 0.7 billion in deficit. The value of service exports remained the same as the previous year at EUR 2.7 billion while the value of service imports fell 1 % year-on-year to EUR 3.5 billion.

The primary income account was EUR 0.1 billion in surplus. The secondary income account was EUR 0.2 billion in deficit.

Financial account

In March net capital outflow from Finland to abroad amounted to EUR 12.7 billion. Of the functional categories of the financial account, net capital outflow was highest in the form of other investments (EUR 10.7 billion).

Net capital inflow to Finland was highest in the form of direct investments (EUR 0.9 billion).

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