Trade balance shows €18m surplus in May

The balance of trade showed a surplus of 18 million euros in May, according to the international trade in goods statistics provided by Finnish Customs.

In January-May, the trade balance, however, showed a deficit of 50 million euros, said a Customs press release on Wednesday.

In May 2018, the trade balance had a deficit of 249 million euros, and in January-May, there was a deficit of almost a billion euros.

The value of Finnish exports of goods increased by seven per cent year-on-year in May.

The value of Finnish exports was nearly 5.8 billion euros. Export prices rose by 3.6 per cent and export volume by 4.5 per cent. In January-May, the value of exports increased by five per cent year-on-year.

The value of imports rose by two per cent in May and was slightly under 5.8 billion euros. Import volume increased by 3.9 per cent, but import prices declined by 1.2 per cent year-on-year. In January-May, the value of imports rose by one per cent compared to the previous year.

Exports of machinery and equipment increased significantly in May. The value of passenger car exports also increased. The value of exports of petroleum products increased rapidly from last year, but the growth in exports of other chemical industry products was slower.

The value of total exports of forest industry products remained at the level of the previous year. Imports of industrial supplies were down in May, while imports of other main groups rose year-on-year.

Exports to EU countries grew by six per cent and exports to non-EU countries by nine per cent in May. Exports to China and the United Kingdom fell in May, but exports to other major trading partners increased.

Imports from EU countries increased by four per cent, but imports from non-EU countries remained at last year’s level in May. Imports from Sweden declined, while imports from other major trading partners increased.