Finland incurs €10m trade deficit in May

The trade balance showed a deficit of 10 million euros in May, according to the preliminary statistics of international trade in goods provided by the Finnish Customs.

Calculated from January to May, there was a deficit of 90 million euros. In the same period last year, the balance of trade showed a deficit of slightly over a billion euros. Last year the trade balance for May showed a deficit of 250 million euros.

In May, the value of Finnish exports increased by six per cent and the value of imports by two per cent year on year. The value of Finnish exports as well as imports in May was 5.7 billion euros. In January-May, exports increased by five per cent and imports by one per cent year on year.

In May, Finnish exports to EU member states increased by five per cent and to non-EU countries by nine per cent.

In the same month, imports from EU-countries increased by four per cent while imports from non-EU countries fell by one per cent. Calculated from the beginning of the year, exports to EU increased by three per cent and to non-EU countries by six per cent.

In the same period, imports from EU member states rose by three per cent but decreased from other countries by two per cent.