Finnish residents’ foreign assets at end-March 2013 again totalled more than foreign liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
At the end of the first quarter of 2013, Finnish residents’ portfolio investment liabilities topped portfolio investment assets by EUR 7 bn, in contrast to a year earlier when assets exceeded liabilities by EUR 2 bn. In connection with foreign direct investment (FDI), Finnish residents’ assets totalled EUR 41 bn more than liabilities. FDI assets amounted to EUR 6 bn more than a year earlier. FDI activity is largely in the hands of non-financial corporations. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
External debt increased further | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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The current account deficit declined from the previous year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In balance of payments terms, the trade account1 showed a deficit of EUR 0.1 bn in the first quarter of 2013, down by EUR 0.3 bn on the previous year. The deficit on services was EUR 0.3 bn, down slightly on the previous year. In January–March, outward interest and dividend payments exceeded inward payments, so that the income account posted a deficit of EUR 0.2 bn. Net FDI income was EUR 0.4 in surplus, while net portfolio investment income was EUR 0.6 bn in deficit. 1 Balance of payments goods data differ from the National Board of Customs’ foreign trade statistics. For BOP purposes, freight and insurance costs are deducted from the National Board of Customs’ cif-based goods imports and appear as service expenditures. Goods produced in ports, which includes fuel, are added to both imports and exports. Finland's balance of payments
More information Anne Turkkila tel. +358 10 831 2175, and Mira Malhotra tel. +358 10 831 2257, email firstname.lastname(at)bof.fi |
Finnish residents' foreign assets still exceed foreign liabilities
Balance of payments - Older news
Statistics
Wednesday 15 May 2013, 10:00 AM