Finland's balance of payments in June 2012

Current account

In June, there was a current account surplus of EUR 0.3 billion, approximately the same figure as a year earlier. The aggregate current account for the previous 12 months posted a deficit of EUR 2.4 billion.

• In BOP terms, there was a surplus of EUR 0.3 billion on the balance of trade.¹
• There was a deficit on the services account, in the amount of EUR 0.01 billion.
• The income account posted a surplus of EUR 0.2 billion.
• The current transfers account posted a deficit of EUR 0.2 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

There was a net inflow of capital in June, in the amount of EUR 0.6 billion.

• There was a net outflow of EUR 1.4 billion in direct investment.
• Portfolio investment was inward on net, in the amount of EUR 5.9 billion.
• In other investment (loans, deposits and trade credits) there was a net outflow of capital, in the amount EUR 2.8 billion.

Net international investment position at end of June

The net international investment position at the end of June was positive, in the amount of EUR 25 billion.

• Finnish residents’ foreign assets totalled EUR 732 billion.
• Finnish residents’ foreign liabilities totalled EUR 707 billion.

The net international investment position excluding equity items was negative, in the amount of EUR 62 billion.