Balance of payments November 2012

Current account

The current account posted a surplus of EUR 0.2 bn in November 2012, compared to a deficit of EUR 0.1 bn a year earlier. The aggregate current account for the past 12 months was EUR 3.1 bn in deficit.

• The goods and services account posted a surplus of EUR 0.5 bn in November.
• In balance of payments terms,¹ the trade account posted a surplus of EUR 0.4 bn.

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 net capital inflow of EUR 0.2 bn.

• Direct investment was EUR 0.8 bn inward on net.
• Portfolio investment was EUR 1.6 bn inward on net.
• Other investment (loans, deposits and trade credits) was EUR 1.9 bn outward on net.

Net international investment position at end-November

Foreign assets exceeded foreign liabilities by EUR 19 bn.

• Finnish residents’ foreign assets totalled EUR 672 bn.
• Finnish residents’ foreign liabilities totalled EUR 653 bn.

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