Trade balance posts €340m deficit in February

The trade balance showed a deficit of EUR 340 million in February, according to the preliminary statistics of international trade in goods provided by Finnish Customs.

In January-February, the trade balance ran a deficit of EUR 650 million. In February 2020, the trade balance was EUR 775 million in deficit, and in January-February it was EUR 1.1 billion in deficit, said Customs in a press release.

According to the statistics, the value of Finnish exports increased by 8.0 per cent, while the value of imports declined by 1.5 per cent in February year-on-year.

The value of Finnish exports in February was EUR 4.8 billion and the value of imports EUR 5.2 billion.

In January-February, the total value of exports decreased by 1.5 per cent and the value of imports by 5.3 per cent year-on-year.

Exports to EU member states increased by 10.6 per cent and exports to non-EU countries by 4.6 per cent in February.

Imports from EU countries decreased by 4.2 per cent, but imports from non-EU countries increased by 2.7 per cent.

Calculated from the beginning of the year, exports to EU countries rose by 0.2 per cent, but declined to non-EU countries by 3.6 per cent.

During the same period, imports from EU member states fell by 5.1 per cent and from other countries by 5.7 per cent.