The current account was in deficit in the first quarter of 2025

Current account and capital account

In the first quarter of 2025, the current account showed a deficit of EUR 1.0 billion. The balance of goods and services was EUR 0.5 billion in surplus. Of the sub-items of the current account, the primary income account was EUR 1.1 billion in deficit and the secondary income account was EUR 0.4 billion in deficit. The 4-quarter moving total of the current account was EUR 0.1 billion in surplus.

The capital account was EUR 0.1 billion in surplus in the first quarter of 2025.

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Goods and services

The goods account in balance of payment terms strengthened by EUR 1.6 billion from previous year and was EUR 2.0 billion in surplus in the first quarter of 2025. The service account was EUR 1.5 billion in deficit.

The value of goods exports in balance of payments terms grew by 11 % year-on-year and was EUR 19.3 billion. The value of goods imports in balance of payments terms grew by 2 % year-on-year to EUR 17.3 billion. The value of service exports in balance of payments terms fell by 2 % year-on-year and was EUR 8.8 billion. The value of service imports in balance of payments terms fell by 10 % year-on-year to EUR 10.2 billion.

More detailed import and export figures in balance of payments terms by service item and area can be found in the statistics on international trade in goods and services starting from 2015. Decreases and increases made to the Finnish Customs figures, which result in goods trade in balance of payments terms are also elaborated in the statistics on international trade in goods and services.

Primary and secondary income accounts

A total of EUR 1.1 billion were paid in primary income on net from Finland to abroad in the first quarter of 2025. Primary income paid to Finland from abroad was EUR 7.3 billion while primary income paid from Finland to abroad was EUR 8.4 billion.

The majority of primary income was in the form of investment income. In the first quarter of 2025 net investment income paid from Finland to abroad amounted to EUR 1.3 billion. Investment income paid to Finland from abroad was EUR 7.0 billion and investment income paid abroad from Finland was EUR 8.3 billion.

The secondary income account was EUR 0.4 billion in deficit.

Net international investment position

In the first quarter of 2025, Finland had EUR 962.3 billion in gross foreign assets and EUR 908.6 billion in gross foreign liabilities. The net international investment position, i. e. the difference between the stock of assets and liabilities was EUR 53.6 billion. The net international investment position weakened from the previous quarter by EUR 19.0 billion.

Examined by type of investment, the majority of foreign assets were in the form of portfolio investments in the first quarter of 2025 (EUR 515.3 billion). Respectively, the share of portfolio investments was also highest in foreign liabilities (EUR 515.8 billion).

When examining the net international investment position by type of investment, it can be seen that the biggest net assets were in direct investments (EUR 60.1 billion). Correspondingly, the largest net liabilities can be found in other investments (EUR 16.1 billion).

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Financial account

Net capital inflow to Finland from abroad amounted to EUR 0.3 billion in the first quarter. Of the functional categories of the financial account, net capital inflow was highest in the form of other investments (EUR 3.1 billion). Net capital outflow from Finland to abroad was highest in the form of direct investments (EUR 2.0 billion).

Net international investment position by sector

Looking into the net international investment position by sector, the largest net foreign assets were held by employment pension schemes (EUR 212.1 billion), collective investment schemes, excl. money market funds (EUR 89.5 billion) and central bank (EUR 48.0 billion). Correspondingly, the largest net foreign liabilities were held by other monetary financial institutions (EUR 148.8 billion), central government (EUR 101.1 billion) and nonfinancial corporations (EUR 79.2 billion).