Finland’s balance of payments in May 2012

Current account

• In May, there was a current account deficit of EUR 0.5 billion, which was less than a year earlier. The aggregate current account for the previous 12 months posted a deficit of EUR 2.3 billion.

• In BOP terms, there was a surplus of EUR 0.2 billion on the balance of trade.¹
• The services account posted a deficit of EUR 0.03 billion.
• The income account posted a deficit of EUR 0.5 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 May, in the amount of EUR 0.9 billion.

• Net inflow of EUR 0.6 billion in direct investment.
• Net inflow of EUR 5.1 billion in portfolio investment.
• Net outflow of EUR 5.5 billion in other investment (loans, deposits and trade credits).

Net international investment position at the end of May

• The net international investment position was positive, in the amount of EUR 23 billion.

• Finnish residents’ foreign assets totalled EUR 779 billion.
• Finnish residents’ foreign liabilities totalled EUR 756 billion.

• The net international investment position excluding equity items was negative, in the amount of EUR 64 billion.