Finland sees €400m trade deficit in August

Finland’s trade deficit stood at 400 million euros in August this year and the figure was more than 1.6 billion euros for the January to August period, according to the statistics of Finnish Customs released on Tuesday.

In the same period last year, the balance of trade showed a deficit of 1.7 billion euros, and 259 million euros in August 2017.

According to the preliminary statistics, the value of Finnish exports increased six per cent and that of imports eight per cent in August year-on-year.

The value of Finnish exports in August was almost 5.1 billion euros and the value of imports was slightly less than 5.5 billion euros. Calculated from the beginning of the year, exports increased seven per cent and imports six per cent.

Exports to EU member states remained at the level of the previous year, but exports to non-EU countries grew 14 per cent in August.

Imports from EU-countries increased one per cent and imports from non-EU countries 20 per cent in August. Calculated from the beginning of the year, exports to EU posted a six per cent rise and to non-EU countries an eight per cent hike. During the same period, imports from EU member states rose by five per cent and from other countries by eight per cent.