Exports increase by 16% in Jan-July

Exports of Finnish goods increased by 16 per cent in January to July this year compared to the corresponding period of the previous year, according to the Finnish Customs.

The value of Finnish exports increased by 20 per cent in July, said customs quoting the international trade in goods statistics.

The value of Finnish exports was 4.7 billion euros. Export prices rise by 6.0 per cent and export volume by 13.2 per cent, said a press release.

In July, the value of imports increased by 17 per cent to a total of five billion euros. Import prices posted a 4.0 per cent rise and import volume increased by 14.4 per cent. In January-July, the total import value increased by 14 per cent compared to that in the first half of 2016.

The balance of trade showed a deficit of 287 million euros in July. In January-July the balance of trade had a deficit of 1.2 billion euros. In July 2016, the trade deficit stood at 334 million euros, and in January-July 2016 the trade balance showed a deficit of 1.5 billion euros.

Exports of electrical machinery and equipment, transport equipment, petroleum products, chemical industry products, forest industry products, and metals improved compared to the previous year’s July, while exports of industrial machinery declined. Imports of all major groups increased in July.

In July, exports to EU member states increased by 28 per cent and to non-EU countries by 11 per cent.

The countries where exports saw the most significant rise in July were Russia, Germany, Sweden, the Netherlands, China, the United Kingdom, and France. However, exports to the United States registered a decline.

Imports from EU countries increased by nine per cent and from non-EU countries by 30 per cent in July. Imports from the United States and the United Kingdom decreased, while imports from Russia, Germany, Sweden, the Netherlands, China, and France increased.