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Home BUSINESSCurrent account in deficit, net capital outflow from Finland
Tue, 16 Feb, 2016 12:01:23 AM
FTimes Report, Feb 16

The current account was in deficit in December 2015 and exports of goods decreased from one year ago with imports of goods slightly high.

 The financial account showed net capital outflow, according to Statistics Finland's data on balance of payments and international investment position.

The current account showed a deficit of EUR 0.2 billion in December 2015. The goods account in balance of payment terms, as well as the service account and the primary income account were in deficit, the statistics show.

The 12-month moving total of the current account was EUR 0.2 billion in surplus.

Exports of goods in balance of payment terms decreased in December to EUR 4.5 billion from EUR 4.7 billion in the year before.

The decline amounted to 4.9 per cent year-on-year. Imports of goods in balance of payment terms increased by 1.6 per cent, as the goods account was EUR 0.1 billion in deficit.

The primary income account was EUR 0.3 billion in surplus and the secondary income account EUR 0.2 billion in deficit.

Net capital outflow was EUR 3.6 billion as per the data.

Of the sub-items of the financial account, net capital outflow as other investments amounted to EUR 8.5 billion. Net capital inflow in the form of portfolio investments totalled EUR 4.4 billion.

Finland's net international investment position was EUR -2.5 billion at the end of December. The country had EUR 696 billion in foreign assets and EUR 698 billion in foreign liabilities.

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