Balance of payments statistics will be transferred to Statistics Finland at the turn of the year

In summer 2013, the Bank of Finland and Statistics Finland signed an agreement to transfer the balance of payment statistics from the Bank of Finland to Statistics Finland. The transfer is part of the central government's effectiveness and profitability project, where one objective is to centralise statistics production to Statistics Finland.

During the autumn, matters related to the transfer have been prepared, the responsibilities and tasks of the parties have been defined, the opinion of the European Central Bank to the transfer has been requested, and issues related to moving of personnel have been dealt with. The cooperation between Statistics Finland and the Bank of Finland has been regular and the centralisation has progressed in a good team spirit.

Proof of the good cooperation is an even internationally exceptional solution, where Statistics Finland uses for the coming three years an information system built at the Bank of Finland through remote access to produce the statistics. The long-term objective is to integrate the information system of the balance of payments statistics into the information system for national accounts.

During the first six months of 2014, the balance of payments statistics will be released through the website of the Bank of Finland. The first release on Statistics Finland's website will be made in July 2014 in accordance with the new Balance of Payments manual. The parties will notify of the change on their websites and direct the users of the statistics to the information source of the balance of payments statistics.

From the beginning of 2014, Statistics Finland is also mainly responsible for collecting the data for the balance of payments statistics. In the first year, the data collection will be made as a joint data collection of the Bank of Finland and Statistics Finland and the data suppliers will be informed of this separately. The Bank of Finland will continue collecting data concerning the financing sector for the balance of payments statistics.

Inquiries:
Leena Storgårds, Director, Economic and Environmental Statistics, Statistics Finland, tel. +358 9 1734 2257
Laura Vajanne, Head of Statistics, Bank of Finland, tel. +358 10 831 2204