Thursday, 13 December, 2018

Trade deficit stands at €165m in September

03 Dec 2018, 02:40 ( 10 days ago) | updated: 03 Dec 2018, 11:47 ( 10 days ago)

DF Report
Photo Lapland Material Bank by Terhi Tuovinen.

The value of Finnish exports of goods increased by two per cent in September year-on-year, according to the international trade in goods statistics provided by Finnish Customs.

The value of Finnish exports was over 5.1 billion euros. Export prices increased by 7.9 per cent while export volume decreased by 4.4 per cent. In January-September, exports increased by seven per cent, said a Customs press release.

The value of imports increased one per cent in September to 5.3 billion euros. Import prices increased by 10.1 per cent while import volume decreased by 7.2 per cent. In January-September, the total import value increased by six per cent compared to the previous year.

The balance of trade showed a deficit of 165 million euros in September. In January-September, the balance of trade had a deficit of almost two billion euros.

In September, the previous year the trade deficit was 260 million euros, and in January-September 2017 the trade balance showed a deficit of almost two billion euros.

Exports of electrical machinery and equipment, chemical industry products, forest industry products and, metals improved compared to the previous year’s September, while exports of industrial machinery, transport equipment, and petroleum products declined.

Imports of electrical machinery and equipment, energy products, and chemical industry products increased, while imports of industrial machinery, transport equipment, food items, and metals were down.

Exports to EU member states increased one per cent in September and exports to non-EU countries five per cent.

The most important export countries to rise in September were Sweden, the Netherlands, the United States, China and the United Kingdom. Exports to Russia and Germany decreased.

Imports from EU-countries decreased nine per cent while imports from non-EU countries rose 16 per cent in September. Imports from Germany, China, and the United Kingdom decreased, while imports from Russia, the Netherlands, and the United States increased 0.333 per cent.

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