Current account posts slight deficit in September

Current account

Financial account and international investment position

Capital outflows in September exceeded inflows by EUR 0.6 billion. In the first three quarters of the year (January – September) there was a net capital inflow of EUR 14.6 billion. In September, there was a net inflow of EUR 0.9 billion in portfolio investment and EUR 1.0 billion in direct investment. Other investments (loans, deposits and trade credits) recorded a net capital outflow of EUR 3.4 billion. There was a net capital inflow of EUR 0.7 billion from derivatives trading. 

At the end of September, Finnish residents’ foreign liabilities exceeded their foreign assets by EUR 6.8 billion. Gross assets amounted to EUR 429 billion, and gross liabilities to EUR 436 billion. The external liabilities of non-financial corporations, monetary financial institutions (MFIs), central government and local government exceeded their external assets. In contrast, the external assets of other financial institutions, employment pension funds and households exceeded their external liabilities. At the end of September, Finnish residents’ securities-based liabilities exceeded their securities-based assets by EUR 38 billion. Other liabilities (loans, deposits and trade credits) also exceeded assets, in the amount of EUR 4.6 billion. In contrast, direct investment assets exceeded liabilities by EUR 26.8 billion.

At the end of September, Finnish residents’ foreign liabilities exceeded their foreign assets and Finland’s net international investment position (gross assets minus gross liabilities) excluding equity items was negative, in the amount of EUR 30 billion.