Trade balance posts €15m surplus in Oct

The trade balance was in surplus of EUR 15 million in October, according to the preliminary statistics of international trade in goods provided by Finnish Customs on Thursday.

In January-October, the aggregated deficit amounted to EUR 1.3 billion. In October 2022, the trade balance was EUR 1.0 billion in deficit and in January-October of the same year, the aggregated deficit was EUR 10.4 billion.

The value of Finnish exports decreased by 10.4 per cent in October year-on-year. The value of Finnish exports in October was EUR 6.2 billion. Export volume decreased by 2.7 per cent and export prices declined by 6.4 per cent year-on-year.

The value of imports decreased by 21.9 per cent in October and the value of imports was EUR 6.2 billion.

Import prices declined by 8.5 per cent and import volume decreased by 13.3 per cent compared to October 2022.

In January-October 2023, the total value of exports decreased by 7.1 per cent and the value of imports by 17.9 per cent year-on-year.

Change of export volume during the latest 12 months was minus 3.8 per cent (12 month moving average November 2022 – October 2023). The corresponding figure for import volume was minus 10.7 per cent.

Value of exports to EU member states decreased by 3.3 per cent and to non-EU countries by 19.0 per cent in October compared to the same month the previous year.

The volume of exports to EU countries increased by 6.8 per cent, but decreased to non-EU countries by 13.8 per cent during the same time.

Calculated from the beginning of the year, value of exports to EU countries decreased by 5.7 per cent and to non-EU countries by 8.9 per cent.

The volume of exports to EU member states decreased by 4.2 per cent and the volume of exports to non-EU countries by 3.0 per cent calculated according to 12-month moving average.

Value of imports from EU countries decreased by 12.9 per cent and from non-EU countries by 32.5 per cent in October. The volume of imports from EU member states decreased by 3.3 per cent and from non-EU countries by 26.9 per cent.

Calculated from the beginning of the year, value of imports from EU member states decreased by 12.4 per cent and from other countries by 24.6 per cent.

The volume of imports from EU member states decreased by 5.0 per cent, and the volume of imports from non-EU countries by 17.8 per cent calculated according to 12-month moving average.