Balance of trade posts €461m deficit in July

The balance of international trade of Finland showed a deficit of 461 million euros in July, according to international trade in goods statistics provided by Finnish Customs.

In January-July, the balance of trade had a deficit of slightly over 1.1 billion euros, said an official press release on Friday.

In July of the previous year the trade deficit was 333 million euros, and in January-July the trade balance showed a deficit of slightly over 1.4 billion euros.

The value of Finnish exports of goods increased by five per cent in July and the value of Finnish exports was almost five billion euros.

Export prices increased by 7.4 per cent while export volume decreased by 1.4 per cent.

In January-July exports showed a growth of seven per cent.

The value of imports increased by seven per cent in July and was slightly over 5.4 billion euros.

Import prices rose by 11.1 per cent while import volume diminished by 1.9 per cent. In January-July, the total import value increased by six per cent compared to the previous year.

Exports of industrial machinery, petroleum products, chemical industry products, forest industry products and metals improved compared to the previous year's July, while exports of electrical machinery and equipment and transport equipment declined.

Imports of industrial machinery, electrical machinery and equipment, crude oil and petroleum products, chemical industry products and metals increased, while imports of transport equipment declined.

Exports to EU member states increased by two per cent in July and exports to non-EU countries rose by eight per cent.

The most important export countries to rise in July were Germany, Sweden, the United States and China. Exports to the Netherlands, Russia and France decreased.

Imports from both EU-countries and from non-EU countries increased by seven per cent. Imports from the Netherlands decreased while imports from other major trading partners increased.