Trade balance posts €725m deficit in Feb

The trade balance was in deficit of EUR 725 million in February, according to the preliminary statistics of international trade in goods provided by Finnish Customs on Thursday.

In January-February, the aggregated deficit amounted to EUR 1.0 billion. In February 2022, the trade balance was EUR 1.1 billion in deficit and in January-February of the same year, the aggregated deficit was EUR 2.2 billion.

According to the preliminary statistics, the value of Finnish exports decreased by 13.8 per cent in February year-on-year. The value of Finnish exports was EUR 5.0 billion. Export volume decreased by 18.7 per cent, and export prices increased by 7.4 per cent year-on-year.

The value of imports decreased by 17.2 per cent in February and the value of imports was EUR 5.7 billion. Import prices increased by 3.6 per cent, but import volume decreased by 19.2 per cent compared to February 2022.

Port strike reduced international trade in goods significantly in February.

In January-February 2023, the total value of exports decreased by 2.7 per cent and the value of imports by 10.5 per cent year-on-year. Change of export volume during the latest 12 months was minus 6.0 per cent (12 month moving average March 2022 – February 2023). The corresponding figure for import volume ‘was minus 2.2 per cent.

Value of exports to EU member states decreased by 11.1 per cent and to non-EU countries by 17.5 per cent in February compared to the same month the previous year. The volume of exports to EU countries decreased by 14.9 per cent and to non-EU countries 23.2 per cent during the same time.

Calculated from the beginning of the year, value of exports to EU countries decreased by 2.2 per cent and to non-EU countries by 3.5 per cent. The volume of exports decreased by 7.2 per cent and the volume of imports by 3.2 per cent calculated according to 12-month moving average.

Value of imports from EU countries decreased by 3.0 per cent and from non-EU countries by 33.1 per cent. The volume of imports from EU member states decreased by 4.4 per cent and from non-EU countries by 40.3 per cent.

Calculated from the beginning of the year, imports from EU member states decreased by 2.0 per cent and from other countries by 20.3 per cent. The volume of imports from EU member states decreased by 4.8 per cent, but the volume of imports increased by 2.2 per cent calculated according to 12-month moving average.