Balance of payments, December 2012

Current account

• The current account posted a deficit of EUR 0.5 bn in December 2012, ie the deficit was EUR 0.2 bn higher than a year earlier. In balance of payment terms,¹ the trade account posted a deficit of EUR 0.5 bn.
• The aggregate current account for the previous 12 months posted a deficit of EUR 3.3 bn, compared to a deficit of EUR 3.1 bn a year earlier.

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 in December.

• Direct investment was EUR 5.4 bn outward on net.
• Portfolio investment was EUR 4.9 bn outward on net.
• Other investment (loans, deposits and trade credits) was EUR 9.7 bn inward on net.

Net international investment position at end-December

Finnish residents’ foreign assets exceeded foreign liabilities by EUR 19 bn.

• Foreign assets totalled EUR 685 bn.
• Foreign liabilities totalled EUR 666 bn.

Net international investment position – excluding equity items – was a negative EUR 64 bn.