Trade balance posts €125m surplus in May

The trade balance was in surplus of EUR 125 million in May, according to the preliminary statistics of international trade in goods published by Finnish Customs on Friday.

In January-May, the aggregated deficit amounted to EUR 2.0 billion.

In May 2023, the trade balance was EUR 190 million in deficit and in January-May of the same year, the aggregated deficit was EUR 875 million.

According to the statistics, the value of Finnish exports decreased by 5.7 per cent in May year-on-year. The value of Finnish exports in May was EUR 6.2 billion. Export volume declined by 4.1 per cent and export prices by 0.7 per cent year-on-year.

The value of imports decreased by 10.2 per cent in May and the value of imports was EUR 6.1 billion.

Import prices increased by 1.6 per cent, but import volume declined by 9.8 per cent compared to May 2023.

In January-May 2024, the total value of exports decreased by 11.5 per cent and the value of imports by 7.7 per cent year-on-year. Change of export volume during the latest 12 months was minus 5.3 per cent (12 month moving average June 2023 – May 2024). The corresponding figure for import volume was minus 8.6 per cent.

Value of exports to EU member states decreased by 6.0 per cent and to non-EU countries by 5.4 per cent in May compared to the same month the previous year.

The volume of exports to EU countries decreased by 3.5 per cent and to non-EU countries by 5.1 per cent during the same time.

Calculated from the beginning of the year, value of exports to EU countries decreased by 11.8 per cent and to non-EU countries by 11.1 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 decreased by 7.1 per cent calculated according to 12-month moving average.

Value of imports from EU countries decreased by 5.6 per cent and from non-EU countries by 16.7 per cent in May. The volume of imports from EU member states decreased by 3.6 per cent and from non-EU countries by 16.9 per cent.

Calculated from the beginning of the year, value of imports from EU member states decreased by 7.0 per cent and from other countries by 8.8 per cent.

The volume of imports from EU member states decreased by 6.3 per cent, and the volume of imports from non-EU countries by 10.7 per cent calculated according to 12-month moving average.