Exports slide by 5% in May

The value of Finnish exports decreased by five per cent while the value of imports increased by three per cent in May compared with that one year ago, according to the preliminary statistics of foreign trade of goods provided by Finnish Customs.

The value of Finnish exports in May was 5.3 billion euros and the value of imports was slightly under 5.6 billion euros. Calculated from the beginning of the year, exports had increased by seven per cent and imports by six per cent, said an official press release.

The trade balance showed a deficit of 260 million euros in May. Calculated from January to May, there was a deficit of 785 million euros.

For the same period last year, the balance of trade showed a deficit of 990 million euros. Last year the trade balance for May showed a surplus of 205 million euros.

Exports to EU member states decreased by 10 per cent in May while exports to non-EU countries increased by three per cent.

Imports from EU-countries as well as from non-EU countries showed a three per cent increase in May.

Calculated from the beginning of the year, exports to both EU and non-EU countries increased by seven per cent. During the same period, imports from EU member states rose by seven per cent and from other countries by four per cent.