Trade balance shows €143m deficit in November

The trade balance showed a deficit of EUR 143 million in November last year, according to the international trade in goods statistics provided by Finnish Customs.

In January-November, the trade balance showed a deficit of EUR 1.0 billion, said a Customs press release.

In November 2018, the trade balance showed a deficit of EUR 13 million and in January-November a deficit of approximately EUR 2.5 billion.

The value of Finnish exports of goods decreased by 12.1 per cent year-on-year in November,. The value of Finnish exports was almost EUR 5.1 billion. Export volumes decreased by 11.0 per cent and export prices by 1.0 per cent year-on-year.

The value of imports fell by 9.8 per cent in November to around EUR 5.2 billion. Import prices decreased by 3.0 per cent and import volumes by 7.0 per cent compared to November 2018.

In January-November, the value of exports increased by 0.9 per cent, while the value of imports decreased by 1.5 per cent from the corresponding period of 2018.

The value of exports of almost all main commodity groups declined in November. Exports of machinery and equipment declined steadily, while exports of passenger cars declined more rapidly.

Exports of petroleum products and other chemical industry products also declined. The value of pulp exports declined sharply following the drop in export prices, and the value of paper and cardboard exports decreased significantly.

Exports of metals also decreased. The value of exports of medical devices and food increased in November. Imports of all major commodity groups decreased in November.

Exports to EU countries fell by 14 per cent and exports outside the EU by nine per cent in November.

Exports to the United States increased in November, but exports to other major export countries declined. Imports from EU countries fell by nine per cent and from non-EU countries by 12 per cent in November.

Imports from all major import countries fell in November. Exports to EU countries remained at the level of 2018 in January-November, but exports to non-EU countries increased by three per cent. During the same period, imports from EU countries remained at the previous year's level, but imports from non-EU countries fell by four per cent.