Balance of payments, August 2012

Current account

Current account was almost in balance in August, as a year earlier

• In BOP terms¹, current account was EUR 0.2 bn in surplus
• Services and income accounts were in balance
• Current transfers account posted a deficit of EUR 0.1 bn

¹ The data under ‘Goods’ in the balance of payments statistics differ from the National Board of Customs’ foreign trade statistics. Freight and insurance costs, which appear in BOP statistics as services expenditure, are deducted from the National Board of Customs’ cif-based goods imports. Goods produced in ports, including eg fuel, are added to both imports and exports.

Financial account

Net capital inflow of EUR 0.6 bn

• Net inflow of EUR 0.6 bn in direct investment
• Net outflow of EUR 3.4 bn in portfolio investment
• Net inflow of EUR 4.2 bn in other investment (loans, deposits and trade credits)

Net international investment position at end-August

Finnish residents’ foreign assets exceeded foreign liabilities by EUR 18 bn

• Foreign assets totalled EUR 728 bn
• Foreign liabilities totalled EUR 710 bn

Net international investment position excluding equity items was a negative EUR 65 bn