Trade balance posts €215m deficit in June

The trade balance was in deficit of EUR 215 million in June, according to the preliminary statistics of international trade in goods provided by Finnish Customs on Tuesday.

In January-June, the aggregated deficit amounted to EUR 970 million.

In June 2022, the trade balance was EUR 735 million in deficit and in January-June of the same year, the aggregated deficit was EUR 6.6 billion.

The value of Finnish exports decreased by 15.4 per cent in June year-on-year. The value of Finnish exports was EUR 6.1 billion. Export volume decreased by 6.1 per cent, and export prices decreased by 9.0 per cent year-on-year.

The value of imports decreased by 20.5 per cent in June and the value of imports was EUR 6.3 billion. Import prices declined by 11.7 per cent and import volume decreased by 8.7 per cent compared to June 2022.

In January-June 2023, the total value of exports decreased by 3.5 per cent and the value of imports by 15.2 per cent year-on-year.

Change of export volume during the latest 12 months was minus 4.2 per cent (12 month moving average July 2022 – June 2023). The corresponding figure for import volume was minus 6.4 per cent.

Value of exports to EU member states decreased by 16.6 per cent and to non-EU countries by 13.7 per cent in June compared to the same month the previous year. The volume of exports to EU countries decreased by 6.2 per cent and to non-EU countries by 6.1 per cent during the same time.

Calculated from the beginning of the year, value of exports to EU countries decreased by 2.8 per cent and to non-EU countries by 4.4 per cent.

The volume of exports to EU member states decreased by 6.3 per cent and the volume of exports to non-EU countries by 0.4 per cent calculated according to 12-month moving average.

Value of imports from EU countries decreased by 17.9 per cent and from non-EU countries by 23.8 per cent in June. The volume of imports from EU member states decreased by 6.4 per cent and from non-EU countries by 9.7 per cent.

Calculated from the beginning of the year, imports from EU member states decreased by 8.8 per cent and from other countries by 22.9 per cent. The volume of imports from EU member states decreased by 3.7 per cent, and the volume of imports from non-EU countries by 8.5 per cent calculated according to 12-month moving average.