Trade balance shows €565m deficit in Oct

The trade balance was in deficit of EUR 565 million in October, according to the preliminary statistics of international trade in goods provided by Finnish Customs on Wednesday.

In January-October, the deficit amounted to EUR 3.2 billion. In October 2020, the trade balance was EUR 85 million in deficit and in January-October of the same year it was EUR 3.1 billion in deficit.

According to the statistics, the value of Finnish exports increased by 17.4 per cent, and the value of imports by 26.2 per cent in October year-on-year.

The value of Finnish exports in October was EUR 6.0 billion and the value of imports EUR 6.6 billion. During the reference month in 2020 exports decreased by 10.8 per cent and imports by 9.8 per cent.

In January-October 2021, the total value of exports increased by 18.0 per cent and the value of imports by 17.2 per cent year-on-year.

Exports to EU member states increased by 17.6 per cent and exports to non-EU countries by 17.0 per cent in October.

Imports from EU countries increased by 16.0 per cent and imports from non-EU countries by 41.6 per cent.

Calculated from the beginning of the year, exports to EU countries rose by 18.6 per cent and to non-EU countries by 17.3 per cent. During the same period, imports from EU member states rose by 15.7 per cent and from other countries by 19.4 per cent.