Balance of payments, March 2014

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 11th 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 In March, the current account posted a deficit of EUR 0.5 bn, compared to a deficit of EUR 0.4 bn a year earlier. The 12-month cumulated current account posted a deficit of EUR 2 bn. In balance of payments terms, the trade account posted a surplus of EUR 0.1 bn.
Financial account Investment was inward on net, in the amount of EUR 0.3 bn. Direct investment was EUR 0.3 bn outward on net. Portfolio investment was EUR 0.9 bn inward on net. Other investment (loans, deposits and trade credits) was EUR 0.2 bn outward on net.
Net international investment position at end-March Foreign assets exceeded foreign liabilities by EUR 20 bn. Finnish residents’ foreign assets totalled EUR 633 bn. Finnish residents’ foreign liabilities totalled EUR 613 bn. Net international investment position – excluding equity items – was a negative EUR 67 bn.

For further information, please contact Pauliina Turunen, tel. +358 9 1734 2958, and Mira Malhotra, tel. +358 9 1734 3411, email: firstname.lastname(at)tilastokeskus.fi

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