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Sun, 02 Oct, 2016 12:04:57 AM FTimes Report, Oct 2  Current account balances 2006–2015, EUR billion. Source: Balance of payments and international investment position, Statistics Finland. The current account deficit contracted to EUR 0.9 billion in 2015, according to Statistics Finland.
The trade account strengthened notably, because the decline in goods imports was faster than the fall in goods exports.
The deficit of the service account grew as service imports grew faster than service exports.
Net capital inflow to Finland was EUR 2.0 billion in 2015. The net international investment position was EUR 1.3 billion positive at the end of the year as per the statistics on balance of payments and international investment position.
The current account deficit contracted to EUR 0.9 billion in 2015 while the deficit amounted to EUR 2.3 billion in the year before.
The decrease in the current account deficit was caused by the growth in the surplus of the trade account to EUR 1.9 billion (EUR 0.2 billion in 2014).
Goods imports went down by 5.7 per cent to EUR 52.8 billion and goods exports by 2.7 per cent to EUR 54.7 billion. The faster decline in goods imports than in goods exports strengthened the trade account.
From the peak year of exports, 2008, the value of goods exports in balance of payments terms has fallen by 16 per cent and the value of goods imports in balance of payments terms by ten per cent.
The services account was EUR 1.6 billion in deficit as exports of services amounted to EUR 22.5 billion and imports to EUR 24.1 billion. Service exports grew by 4.4 per cent while service imports grew by 5.9 per cent.
Of the other sub-items of the current account, the primary income account was EUR 1.2 billion in surplus and the secondary income account EUR 2.3 billion in deficit.
The net flow of outward investments directed to foreign securities, that is, the difference between purchases and sales totalled EUR -0.6 billion.
Investments in foreign shares went down by EUR 1.3 billion. Portfolio investment liabilities grew in total by EUR 6.4 billion.
The fall in gross direct investment assets in 2013 to 2014 halted. In turn, liabilities grew to the highest level in history at the end of 2015.
As a result of the stronger growth in liabilities than in assets, net assets connected to direct investments nearly halved to EUR 11.2 billion compared to EUR 20.3 billion in the year before.
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