BANK OF FINLAND
Monthly news
15 Feb 2011

Balance of payments, December 2010

Current account

  • Current account in December 2010 EUR 0.8 bn in surplus, ie EUR 0.2 bn higher than a year earlier.
  • In BOP terms, trade account EUR 0.3 bn in surplus. A year earlier exports and imports were equal and BOP trade account was in balance.
  • Current account for 2010 as a whole EUR 5.2 in surplus,1 ie  EUR 0.5 bn higher than in 2009 and EUR 0.2 lower than in 2008.

 

Trade and current account

Financial account

  • Net capital outflow of EUR 3.9 bn.
  • Net outflow of EUR 1.4 bn in direct investment.
  • Net outflow of EUR 11.6 bn in portfolio investment.
  • Net inflow of EUR 8.8 bn in other investment (loans, deposits and trade credits).

 

Portfolio investments

Net international investment position at end-December 2010

  • Finnish resident’s foreign assets exceeded foreign liabilities by EUR 10 bn.
  • Foreign assets totalled EUR 533 bn.
  • Foreign liabilities totalled EUR 523 bn.
  • Net international investment position excluding equity items was a negative EUR 47 bn.

Net international investment position

 

Finland's balance of payments
Year 2009,
EUR million
November 2010,
EUR million
December 2010,
EUR million
Year 2010, EUR million
Current account 4,696 497 826 5,158
    Goods 3,395 60 272 3,535
    Services 1,329 258 270 1,502
    Income 1,661 310 414 1,821
    Current transfers -1,689 -131 -131 -1,700
Capital account 145 12 11 144
Financial account 11,011 291 -3,929 -4,253
    Direct investment -2,762 21 -1,385 -3,882
    Portfolio investment -513 3,430 -11,624 -7,936
    Other investment 12,669 -3,692 8,780 6,262
    Reserve assets -614 507 8 1,666
    Financial derivatives 2,231 25 292 -362
Errors and omissions -15,852 -800 3,092 -1,049

The statistics become final more than two years after the end of the reference year.

1 Data on trade in goods and services for 2008 and 2009 differ from Statistics Finland’s data due to different revision methods.


More information
Anne Turkkila tel. +358 10 831 2175, email firstname.lastname(at)bof.fi


The next balance of payments bulletin will be published at 10.00 am on 15 March 2011.

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