Finland Current Account Swings to Deficit in July

Finland’s current account swung to a EUR 890 million deficit in August 2026 from a EUR 319 million surplus in the corresponding month of the previous year. The deterioration was mainly driven by a shift in the primary income balance to a EUR 566 million deficit from a EUR 447 million surplus, while the secondary income deficit widened to EUR 174 million from EUR 124 million. The goods trade surplus narrowed to EUR 143 million from EUR 168 million a year earlier, as goods exports rose 24% year-on-year to EUR 7.2 billion, while imports increased at a faster 26% to EUR 7.1 billion. Meanwhile, the services deficit narrowed to EUR 292 million from EUR 171 million. The 12-month moving average of the current account remained in deficit by EUR 700 million. Separately, net capital flows from Finland to abroad reached EUR 5.8 billion, largely reflecting outflows of EUR 4.9 billion in other investments.

Finland’s current account swung to a EUR 242 million deficit in July 2026 from a EUR 1,960 million surplus in the corresponding month of the previous year. The deterioration was largely driven by a sharp decline in the goods account surplus, which narrowed to EUR 232 million from EUR 2,117 million a year earlier. At the same time, the services deficit widened to EUR 718 million from EUR 590 million, while the primary income surplus decreased to EUR 439 million from EUR 581 million. Meanwhile, the secondary income shortfall increased to EUR 195 million from EUR 148 million.

Finland's current account surplus widened to EUR 2,830 million in June 2026 from EUR 1,282 million in the corresponding month of the previous year. This marked the largest current account surplus on record, largely as the goods account surplus climbed sharply to EUR 2,797 million in June from EUR 1,063 million a year earlier. At the same time, the primary income surplus increased to EUR 903 million from EUR 744 million in June 2025. Meanwhile, a wider deficit was recorded in the services account, which expanded to EUR 693 million from EUR 369 million, while the secondary income shortfall also rose to EUR 178 million from EUR 155 million.