Trade balance posts €440m deficit in July

The balance of trade showed a deficit of EUR 440 million in deficit in July, according to the preliminary statistics of international trade in goods provided by the Finnish Customs.

In January-July, the trade balance ran a deficit of EUR 2.1 billion. In July last year, the trade balance stood at EUR 498 million in deficit, and in January-July, 2019 it was EUR 507 million in deficit, according to the Customs statistics released on Monday.

In July, the value of Finnish exports decreased by 13.8 per cent, while the value of imports declined by 13.6 per cent year on year.

The value of Finnish exports in July was almost EUR 4.4 billion and the value of imports EUR 4.8 billion.

In January-July, the total value of exports decreased by 16.8 per cent and the value of imports by 12.3 per cent year on year.

Exports to EU member states decreased by 9.8 per cent and to non-EU countries by 18.0 per cent in July.

Imports from EU countries diminished by 12.2 per cent and from non-EU countries by 15.3 per cent in July.

Calculated from the beginning of the year, exports to EU decreased by 16.5 per cent and to non-EU countries by 17.1 per cent.

During the same period, imports from EU member states fell by 10.9 per cent and from other countries by 14.3 per cent.