Balance of payments, October 2012

Current account

The current account posted a slight deficit in October. In October 2011, the current account deficit was EUR 0.8 bn. The aggregate current account for the past 12 months posted a deficit of EUR 3.4 bn.

• The goods and services account posted a surplus of EUR 0.1 bn.
• In balance of payments terms,¹ the trade account was on balance.

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 balance of payments 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

There was a net capital outflow of EUR 0.3 bn.

• Direct investment was EUR 0.9 bn outward on net.
• Portfolio investment was EUR 4.4 bn inward on net.
• Other investment (loans, deposits and trade credits) was EUR 3.7 bn outward on net.

Net international investment position at end-October

Foreign assets exceeded foreign liabilities by EUR 16 bn.

• Finnish residents’ foreign assets totalled EUR 716 bn.
• Finnish residents’ foreign liabilities totalled EUR 700 bn.

Net international investment position – excluding equity items – was a negative EUR 67 bn.