Trade balance posts €100m surplus in Aug

The trade balance was in surplus of EUR 100 million in August, according to the preliminary statistics of international trade in goods provided by Finnish Customs on Friday.

In January-August, the aggregated deficit amounted to EUR 1.4 billion. In August 2022, the trade balance was EUR 1.3 billion in deficit and in January-August of the same year, the aggregated deficit was EUR 9.1 billion.

The value of Finnish exports decreased by 9.9 per cent in August year-on-year. The value of Finnish exports in August was EUR 6.1 billion. Export volume increased by 0.6 per cent, but export prices declined by 9.1 per cent year-on-year.

The value of imports decreased by 25.7 per cent in August and the value of imports was EUR 6.0 billion. Import prices declined by 14.0 per cent and import volume decreased by 13.0 per cent compared to August 2022.

In January-August 2023, the total value of exports decreased by 6.2 per cent and the value of imports by 17.7 per cent year-on-year.

Change of export volume during the latest 12 months was minus 4.7 per cent (12 month moving average September 2022 – August 2023). The corresponding figure for import volume was minus 9.6 per cent.

Value of exports to EU member states decreased by 10.9 per cent and to non-EU countries by 8.5 per cent in August compared to the same month the previous year.

The volume of exports to EU countries decreased by 1.1 per cent, but increased to non-EU countries by 1.8 per cent during the same time.

Calculated from the beginning of the year, value of exports to EU countries decreased by 5.6 per cent and to non-EU countries by 6.9 per cent.

The volume of exports to EU member states decreased by 6.8 per cent and the volume of exports to non-EU countries by 1.2 per cent calculated according to 12-month moving average.

Value of imports from EU countries decreased by 21.5 per cent and from non-EU countries by 30.6 per cent in August. The volume of imports from EU member states decreased by 8.4 per cent and from non-EU countries by 19.7 per cent.

Calculated from the beginning of the year, value of imports from EU member states decreased by 12.1 per cent and from other countries by 24.3 per cent.

The volume of imports from EU member states decreased by 5.1 per cent, and the volume of imports from non-EU countries by 14.3 per cent calculated according to 12-month moving average.