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National economy

The current account was in deficit in March 2022

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Reference period:
2022, March
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release

The current account was in deficit in March 2022. The value of goods exports in balance of payments terms increased by 21 per cent year-on-year. There was net capital inflow to Finland from abroad. The data appear from Statistics Finland's statistics on balance of payments and international investment position.

The deficit of the current account grew significantly.

Key points

  • The current account was in deficit in March.
  • The value of goods exports in balance of payments terms increased by 21 per cent year-on-year.
  • Net capital inflow to Finland from abroad.

Current account

The current account was EUR 1.2 billion in deficit in March. The 12-month moving total of the current account was EUR 0.7 billion in surplus.

Of the sub-items of the current account, the goods account in balance of payment terms was EUR 0.5 billion in deficit. The value of goods exports in balance of payments terms increased by 21 per cent year-on-year and was EUR 6.9 billion at the same time as the value of goods imports in balance of payments terms increased by 34 per cent year-on-year to EUR 7.5 billion. The service account was in deficit by EUR 0.4 billion. The value of service exports increased by 24 per cent year-on-year and was EUR 2.3 billion. On the other hand, the value of service imports rose by 17 per cent year-on-year to EUR 2.8 billion.

The primary income account was EUR 0.1 billion in surplus. The secondary income account was EUR 0.3 billion in deficit.

The 12-month moving totals of the current account and the balance of goods and services continued to fall.

Financial account

In March net capital inflow to Finland from abroad amounted to EUR 2.1 billion. Of the functional categories of the financial account, net capital inflow was highest in the form of portfolio investments, EUR 5.9 billion. Net capital outflow from Finland was highest in the form of other investments.

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