Balance of payments, September 2012

Current account

In September, there was a current account surplus of EUR 73 million, compared with EUR 458 million a year earlier. The aggregate current account for the previous 12 months posted a deficit of EUR 4 billion.

• In BOP terms, there was a surplus of EUR 118 million on the balance of trade.¹
• There was a deficit on the services account, in the amount of EUR 17 million.
• The income account posted a surplus of EUR 106 million.
• The current transfers account posted a deficit of EUR 134 million.

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 fuel, are added to both imports and exports.

Financial account

There was a net inflow of capital in September, in the amount of EUR 0.3 billion.

• There was a net outflow of EUR 0.6 billion in direct investment.
• Portfolio investment was outward on net, in the amount of EUR 0.6 billion.
• In other investment (loans, deposits and trade credits) there was a net inflow of capital, in the amount of EUR 0.7 billion.

Net international investment position at the end of September

The net international investment position at the end of September was positive, in the amount of EUR 18 billion.

• Finnish residents’ foreign assets totalled EUR 734 billion.
• Finnish residents’ foreign liabilities totalled EUR 716 billion.
• The net international investment position excluding equity items was negative, in the amount of EUR 58 billion.