Trade balance posts €1.7b surplus in Nov

The trade balance was in surplus of EUR 1.7 billion in November 2023, according to the preliminary statistics of international trade in goods published by Finnish Customs on Monday.

In January-November 2023, the aggregated surplus amounted to EUR 340 million. In November 2022, the trade balance was EUR 277 million in surplus and in January-November of the same year, the aggregated deficit was EUR 10.1 billion.

The value of Finnish exports increased by 0.3 per cent in November year-on-year. The value of Finnish exports in November was EUR 8.1 billion. Export volume increased by 4.4 per cent, but export prices declined by 2.9 per cent year-on-year.

The value of imports decreased by 17.8 per cent in November and the value of imports was EUR 6.4 billion. Import prices declined by 7.9 per cent and import volume decreased by 9.5 per cent compared to November 2022.

In January-November 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 3.6 per cent (12 month moving average December 2022 – November 2023). The corresponding figure for import volume was minus 11.1 per cent.

Value of exports to EU member states decreased by 5.3 per cent, but increased to non-EU countries by 5.4 per cent in November 2023 compared to the same month the previous year. The volume of exports to EU countries increased by 2.7 per cent and to non-EU countries by 6.4 per cent during the same time.

Calculated from the beginning of the year, value of exports to EU countries decreased by 5.5 per cent and to non-EU countries by 7.0 per cent. The volume of exports to EU member states decreased by 2.6 per cent and the volume of exports to non-EU countries by 4.8 per cent calculated according to 12-month moving average.

Value of imports from EU countries decreased by 17.2 per cent and from non-EU countries by 18.6 per cent in November. The volume of imports from EU member states decreased by 9.5 per cent and from non-EU countries by 10.5 per cent.

Calculated from the beginning of the year, value of imports from EU member states decreased by 12.7 per cent and from other countries by 23.8 per cent. The volume of imports from EU member states decreased by 5.3 per cent, and the volume of imports from non-EU countries by 18.3 per cent calculated according to 12-month moving average.