Trade balance posts €195m deficit in June

The trade balance showed a deficit of EUR 195 million in June this year, according to the international trade in goods statistics provided by Finnish Customs.

In January-June period, the trade balance had a deficit of EUR 1.7 billion. The deficit was EUR 129 million smaller than in the corresponding period of last year, said Customs in a press release on Tuesday.

The value of Finnish exports of goods increased by 24.1 per cent year-on-year in June.

The value of Finnish exports was EUR 5.6 billion. Export volume increased by 13.5 per cent and export prices by 10.5 per cent year-on-year.

The value of imports increased by 21.6 per cent in June to EUR 5.8 billion. Import prices increased by 15.8 per cent and import volume by 7.0 per cent compared to June 2020.

In January-June, the aggregated value of exports increased by 13.8 per cent and the value of imports by 12.5 per cent compared with the corresponding period last year. In June 2020, the value of exports decreased by 14.1 per cent and the value of imports by 7.9 per cent year-on-year.

The aggregate trade surplus by commodity group for forest industry products increased in January-June compared with the corresponding period in 2020.

The trade surplus in industrial machinery and equipment decreased from a year ago, but the trade surplus in metals increased. Trade deficit increased in the trade in ores and scrap metal, transport equipment and electrical machinery and equipment, but decreased in the trade in foodstuffs in January-June compared to same period the previous year.

The terms of trade weakened in June compared to the corresponding month of 2020 as import prices increased more than export prices. The point figure in June was 95.6, while it was 100.2 in June 2020. The terms of trade weakened also from May 2021.

The value of exports of capital goods increased by 9.3 per cent and the value of exports of industrial supplies by 36.3 per cent in June.

The value of exports of fuels and lubricants decreased by 30.6 per cent. The value of exports of consumer goods decreased by 1.8 per cent and the value of exports of food and beverages by 2.9 per cent.

The value of exports of transport equipment and parts and accessories increased by 56.6 per cent.

The value of imports of food and beverages decreased by 3.5 per cent and the value of imports of consumer goods by 3.8 per cent.

The value of imports of industrial supplies rose by 28.7 per cent. The value of imports of capital goods increased by 4.4 per cent and the value of imports of transport equipment by 27.1 per cent. The value of imports of fuels and lubricants rose by 78.9 per cent in June compared with the corresponding month last year.

Exports to EU countries increased by 25.0 per cent and exports to non-EU countries by 23.1 per cent in June.

Imports from EU countries increased by 22.7 per cent and imports from non-EU countries by 19.8 per cent in June.

In January-June, exports to EU countries increased by 13.0 per cent and exports to non-EU countries by 14.7 per cent. During the same period imports from EU countries increased by 13.5 per cent and from non-EU countries by 10.9 per cent.