Trade balance shows €208m surplus in June

The balance of trade showed a surplus of 208 million euros in June, according to the international trade in goods statistics provided by Finnish Customs.

In January-June, the trade balance showed a surplus of 159 million euros. In June 2018, the trade balance had a deficit of 156 million euros, and in January-June, there was a deficit of almost 1.2 billion euros, said a press release.

The value of Finnish exports of goods decreased by three per cent year-on-year in June, according to the international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was 5.2 billion euros. Export prices rose by 0.5 per cent, but export volume fell by 2.8 per cent. In January-June, the value of exports increased by four per cent year-on-year.

The value of imports fell by ten per cent in June and was about five billion euros. Import volume decreased by 2.3 per cent, and import prices by 3.9 per cent year-on-year. In January-June, the value of imports decreased by one per cent compared to the previous year.

Exports were weak in June in several commodity groups. Exports of passenger cars fell significantly. The value of exports of industrial machinery and equipment declined less, but the value of exports of electrical machinery and equipment, incl. power supplies, increased.

Exports of chemical industry products and forestry industry products fell in June. As in recent months, the value of metal exports was boosted by exports of gas pipelines to the high seas and Russia.

The value of steel, copper and zinc exports declined significantly but exports of nickel increased. The import value of all main commodity groups declined in June. The sharpest decline was in industrial supplies.

Exports to EU countries fell by seven per cent, but exports to non-EU countries rose by two per cent in June.

Exports to the US, China and Russia increased in June, but exports to other major trading partners declined. Exports to Germany fell significantly.

Imports from EU countries fell by 14 per cent and imports from non-EU countries by three per cent in June. Imports from China and the US increased, while imports from other major trading partners declined.

In January-June, exports to EU countries grew by two per cent and exports to non-EU countries by six per cent. During the same period, imports from EU countries remained at last year's level, but imports from outside the EU fell by two per cent.