Finland sees EUR 673m trade deficit in Jan-March

Finland’s trade deficit stood at 207 million euros in March this year and the figure was 673 million euros in January to March period, according to the statistics of Finnish Customs released on Thursday.

In March the previous year the trade surplus was 36 million euros, but in January-March period the trade balance showed a deficit of 804 million euros.

Meanwhile, the value of Finnish exports of goods decreased by one per cent in March this year.

The value of Finnish exports was 5.4 billion euros. Export prices increased by 2.3 per cent while export volume decreased by 1.7 per cent. In January-March the value of exports increased by seven per cent.

The value of imports increased by four per cent in March and was 5.6 billion euros. Import prices increased by 6.3 per cent and import volume by 0.4 per cent. In January-March, the total import value increased by five per cent compared to the previous year.

The value of exports of petroleum, basic chemicals, paper and cardboard and paper pulp increased in March.

Growth in passenger car exports was still fast, but slowed down from the beginning of the year. The exports of special industry machines and electrical machinery and equipment increased. The value of exports of power machines and engines, mechanical forest products, instruments and meters and metals declined in March. Imports of consumer goods and industrial goods also declined in March, but imports of investment goods, transport equipment and energy products increased.

In March, exports both to EU member states and non-EU countries decreased by one per cent. Exports to Germany increased, but declined to most of the other major trading partners. Imports from EU-countries increased by two per cent and imports from non-EU countries by six per cent in March. Imports from Sweden, the Netherlands, China, the United Kingdom and France decreased, while imports from Germany, the United States and Russia increased.