Balance of payments in July 2012

Current account

In July, the current account posted a surplus of EUR 0.1 billion. The aggregate current account for the previous 12 months posted a deficit of EUR 3,6 billion.

• In BOP terms¹, there was a surplus of EUR 0.2 billion in the balance of trade.
• The services account was in balance.
• The income account posted a surplus of EUR 0.1 billion.
• The current transfers account posted a deficit of EUR 0.1 billion.

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 outflow of EUR 1.0 billion in investment capital.

• There was a EUR 0.4 billion net outflow of capital in the form of direct investment.
• Net inflow of EUR 0.3 billion in portfolio investment.
• Net outflow of EUR 2.0 billion in other investment (loans, deposits and trade credits).

Net international investment position at end-July

Foreign assets exceeded foreign liabilities by EUR 19 billion.

• Finnish residents’ foreign assets totalled EUR 737 billion.
• Finnish residents’ foreign liabilities totalled EUR 718 billion.

Net international investment position – excluding equity items – was a negative EUR 66 billion.