Trade balance posts €318m deficit in Jan

The value of Finnish exports of goods decreased by 10.4 per cent year on year in January, according to the international trade in goods statistics provided by Finnish Customs.

The value of Finnish exports was EUR 4.4 billion. Export volume fell by 8.5 per cent and export prices decreased by 0.4 per cent year on year.

The value of imports declined by 9.2 per cent in January to EUR 4.7 billion. Import prices decreased by 0.5 per cent and import volumes by 7.6 per cent compared to January 2020.

In January 2021, the trade balance showed a deficit of EUR 318 million. The year before, in the corresponding month, the deficit was EUR 286 million.

The trade balance surplus by commodity group decreased in the trade in chemical forest industry products, metal products, and industrial machinery and equipment in January compared with that in the corresponding month of last year.

The surplus in the trade with mechanical forest industry products and instruments, and apparatus increased from that in the corresponding month of last year. The deficit increased in the trade in other energy products than oil, transport equipment and electrical machinery and equipment, but decreased in the trade in oil and petroleum products, chemical products and foodstuffs.

The value of exports of capital goods decreased by 16.0 per cent and the value of exports of industrial supplies declined by 9.2 per cent in January.

The value of exports of fuels and lubricants decreased by 11.7 per cent. The value of exports of consumer goods increased by 12.3 per cent but the value of exports of food and beverages fell by 17.1 per cent. The value of exports of transport equipment and parts, and accessories decreased by 12.8 per cent.

The value of imports of food and beverages decreased by 18 per cent and the value of imports of consumer goods declined by eight per cent in January. The value of imports of industrial supplies decreased by 6.6 per cent. The value of imports of capital goods diminished by 10.9 per cent, but the value of imports of transport equipment rose by 0.3 per cent. The value of imports of fuels and lubricants fell by 17.7 per cent in January compared with that in the corresponding month of last year.

Exports to EU countries fell by 9.9 per cent and exports to non-EU countries by 11.1 per cent in January. Imports from EU countries decreased by 6.4 per cent and imports from non-EU countries by 12.9 per cent.