Nonsingular decaying-vacuum cosmology and baryonic matter

A nonsingular closed universe model with continuous creation of radiation or matter from the vacuum is introduced. Although primordial nucleosynthesis in this model follows the standard scenario it does not require the density of baryonic matter to be well below the critical density as in standard cosmology. The model predicts a present vacuum energy comparable with the matter energy. Its predictions for the classical low red-shift cosmological tests agree with the standard flat model results.