Balance of trade posts €573m deficit in Jan-April

Although the country’s balance of trade showed a surplus of 112 million euros in April, the balance still had a deficit of 573 million euros in the January-April period, according to the international trade statistics provided by Finnish Customs.

In April 2017 the trade deficit stood at 374 million euros, while in January-April 2017 the trade balance showed a deficit of 1.2 billion euros.

The value of Finnish exports of goods increased by 21 per cent in April, while the value of Finnish exports was slightly over 5.5 billion euros.

Export prices in April increased by 0.6 per cent while export volume rose by 20.8 per cent. In January-April, the value of exports increased by 10 per cent.

The value of imports increased by nine per cent in April to reach almost 5.4 billion euros. Import prices increased by 6.0 per cent and import volume by 4.3 per cent. In January-April, the total import value increased by six per cent compared to that in the corresponding period of the previous year.

The value of exports of transport equipment grew most because of rapid growth in the value of passenger car exports and export of a cruise ship to Germany at a price of 542 million euros in April.

Exports of machinery and equipment, forest industry products and metal industry products rose significantly while exports of petroleum products and food declined in April. The value of exports of chemical industry products remained at the same level as the year before.

Imports of energy products and food declined in April, while imports of consumer goods, industrial goods, investment goods and transport equipment increased.

Exports to EU member states increased by 31 per cent in April and to non-EU countries by seven per cent. Exports grew most to Germany but declined to the United States, to China and to the United Kingdom. Imports from both EU member states and other countries increased by nine per cent in April. Imports rose from all major trade partners except France. Calculated from January to April, exports to EU member states increased by 12 per cent and to other countries by eight per cent. Imports from EU member states rose at the same period by eight per cent and imports from non-EU countries by five per cent.