Trade balance shows €245m deficit in August

The balance of trade showed a deficit of EUR 245 million in August, according to the international trade in goods statistics provided by Finnish Customs.

In January-August, the trade balance showed a deficit of EUR 649 million, said an official press release on Friday.

In August 2018, the trade balance showed a deficit of EUR 523 million and a deficit of almost EUR 2.1 billion in January-August.

The value of Finnish exports of goods fell by 1.2 per cent year-on-year. The value of Finnish exports was just over EUR 5.0 billion. Export volumes increased by 0.3 per cent, but export prices decreased by 0.6 per cent year-on-year. In January-August, the value of exports increased by 2.6 per cent year-on-year.

The value of imports fell by six per cent in August to about EUR 5.3 billion. Import prices decreased by 6.0 per cent, but import volumes increased by 2.7 per cent year-on-year. In January-August, the value of imports declined by 0.8 per cent year-on-year.

The balance of trade showed a deficit of EUR 245 million in August. In January-August, the trade balance showed a deficit of EUR 649 million.

In August 2018, the trade balance showed a deficit of EUR 523 million and a deficit of almost EUR 2.1 billion in January-August.

The value of exports of forest industry products fell considerably in August. The value of exports of refined petroleum products declined also. Exports of chemical products, steel, nickel and ores also declined. Exports of machinery and equipment diminished as well in August, but the value of private cars exports multiplied from the exceptionally weak reference month. The value of imports of consumer goods, transport equipment and parts thereof increased, while imports of other main groups declined.

Exports to EU countries remained at last year's level, but exports to non-EU countries fell by three per cent year-on-year in August.

Exports to Sweden, Russia and Germany increased in August, but exports to the US, UK and the Netherlands declined. Imports from EU countries fell by four per cent and imports from outside the EU by nine per cent in August.

Imports from Sweden, China and the United States increased, while imports from Germany, Russia and the Netherlands decreased.

In January-August, exports to EU countries grew by one per cent and exports to non-EU countries by five per cent. Over the same period, imports from EU countries remained at the previous year's level, but imports from outside the EU fell by three per cent.