Current account sees €1.6b deficit in May

The current account was EUR 1.6 billion in deficit in May 2022,according to Statistics Finland.

The 12-month moving total of the current account was EUR 3.2 billion in deficit.

The value of goods exports in balance of payments terms increased by 31 per cent year-on-year. There was net capital outflow from Finland to abroad.

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 was EUR 7.3 billion at the same time as the value of goods imports in balance of payments terms increased by 46 per cent year-on-year to EUR 7.5 billion.

The service account was in deficit by EUR 0.5 billion.

The primary income account was EUR 0.6 billion in deficit. The secondary income account was EUR 0.2 billion in deficit.

In May net capital outflow from Finland to abroad amounted to EUR 5.0 billion. Of the functional categories of the financial account, net capital outflow was highest in the form of portfolio investments, EUR 8.0 billion.

Net capital inflow to Finland was highest in the form of other investments.