Balance of trade posts €180m deficit in October

The trade balance showed a deficit of 180 million euros in October, according to the preliminary statistics of international trade in goods provided by Finnish Customs.

Calculated from January to October, there was a deficit of almost 2.2 billion euros. Under the same period last year the balance of trade showed also a deficit of almost 2.2 billion euros, said a Customs press release.

Last year the trade balance for October showed a deficit of 210 million euros.

The value of Finnish exports, however, was increased by eight per cent and the value of imports by seven per cent in October year-on-year.

The value of Finnish exports in October was almost 5.8 billion euros and the value of imports was slightly under six billion euros. Calculated from the beginning of the year, both exports and imports increased by seven per cent year-on-year.

Exports to EU member states increased by five per cent and exports to non-EU countries increased by 14 per cent in October.

Imports from EU countries increased by five per cent and imports from non-EU countries by 11 per cent in October. Calculated from the beginning of the year, exports to EU increased by six per cent and to non-EU countries by nine per cent year-on-year.

During the same period, imports from EU member states increased by five per cent and from other countries by ten per cent.