Trade balance posts €330m deficit in October

The trade balance was in deficit of EUR 330 million in October, according to the preliminary statistics of international trade in goods published recently by Finnish Customs.

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

In October 2023, the trade balance was EUR 27 million in deficit and in January-October of the same year, the aggregated deficit was EUR 1.6 billion.

According to the statistics, the value of Finnish exports increased by 1.1 per cent in October year-on-year. The value of Finnish exports in October was EUR 6.3 billion.

Export volume increased by 1.4 per cent, and export prices increased by 0.4 per cent year-on-year.

The value of imports increased by 5.9 per cent in October and was EUR 6.7 billion. Import prices declined by 0.1 per cent, and but import volume increased by 7.4 per cent compared to October 2023.

In January-October 2024, the total value of exports decreased by 4.0 per cent and the value of imports by 3.3 per cent year-on-year.

Change of export volume during the latest 12 months was minus 1.9 per cent (12 month moving average November 2023 – October 2024). The corresponding figure for import volume was minus 3.9 per cent.

Value of exports to EU member states increased by 3.7 per cent, but decreased to non-EU countries by 2.6 per cent in October compared to the same month the previous year.

The volume of exports to EU countries increased by 6.4 per cent, but decreased to non-EU countries by 4.8 per cent during the same time.

Calculated from the beginning of the year, value of exports to EU countries decreased by 3.9 per cent and to non-EU countries by 4.0 per cent.

The volume of exports to EU member states decreased by 0.2 per cent, and the volume of exports to non-EU countries decreased by 4.3 per cent calculated according to 12-month moving average.

Value of imports from EU countries increased by 0.4 per cent and from non-EU countries by 14.0 per cent in October. The volume of imports from EU member states increased by 1.1 per cent and from non-EU countries by 18.2 per cent.

Calculated from the beginning of the year, value of imports from EU member states decreased by 2.8 per cent and from other countries by 4.0 per cent.

The volume of imports from EU member states decreased by 3.5 per cent, and the volume of imports from non-EU countries by 1.7 per cent calculated according to 12-month moving average.