Balance of payments, December 2013

Responsibility for the compilation of balance of payments was transferred from the Bank of Finland to Statistics Finland on 1 January 2014. During the transition period 1 January 2014 – 30 June 2014, monthly balance of payments releases will continue to be published via the Bank of Finland’s website. Balance of payments data published after the transition period will be posted on Statistics Finland’s website. Statistics Finland is responsible for the content of published releases and data figures.

As of July 15th 2014, Finland will publish its balance of payments data in accordance with the guidelines and recommendations of BPM6. At the same time, Finland will adopt the new ECB Guidelines and the European Union Regulations.
Here is a link to information on the changes that the new statistics standards cause in the compilation of balance of payments statistics: http://tilastokeskus.fi/til/maksutasetilastointi_en.html

Current account The current account posted a deficit of EUR 0.7 bn in December, compared to a deficit of EUR 0.5 bn a year earlier. The cumulative current account for the past 12 months posted a deficit of EUR 1.6 bn. In balance of payment terms, the trade account posted a deficit of EUR 0.4 bn.
Financial account Investment was outward on net, in the amount of EUR 5.3 bn. Direct investment was EUR 1.2 bn outward on net. Portfolio investment was EUR 9 bn outward on net. Other investment (loans, deposits and trade credits) was EUR 4.8 bn inward on net.
Net international investment position at end-December Foreign assets exceeded foreign liabilities by EUR 30 bn. Finnish residents’ foreign assets totalled EUR 627 bn. Finnish residents’ foreign liabilities totalled EUR 597 bn. Net international investment position excluding equity items was a negative EUR 61 bn.

More information: Mira Malhotra tel. +358 9 1734 3411, and Pauliina Turunen tel. +358 9 1734 2958, email firstname.lastname(at)stat.fi

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