Finland sees €180m trade deficit in October

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

In January to October, the balance of trade had a deficit of 2.1 billion euros. In October the previous year, the trade deficit was 210 million euros, and in January-October the trade balance showed a deficit of almost 2.2 billion euros, said a press release.

The value of Finnish exports of goods increased by eight per cent in October. The value of Finnish exports was 5.8 billion euros. Export prices increased by 5.4 per cent and export volume by 3.3 per cent. In January-October, exports increased by seven per cent year-on-year.

The value of imports increased also by eight per cent in October and was almost six billion euros. Import prices increased by 10.7 per cent while import volume decreased by 1.0 per cent. In January-October, the total import value increased by seven per cent compared to the previous year.

Exports of transport equipment declined in October, while exports of other major goods categories increased. Imports of electrical machinery and equipment, transport equipment, crude oil and petroleum products, chemical industry products and food items increased, while imports of industrial machinery and metals were down.

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

The most important export countries to rise in October were Sweden, the Netherlands, the United States and the United Kingdom. Exports to China decreased. Imports from EU-countries increased by five per cent and imports from non-EU countries by 11 per cent in October. Imports from Germany and the United Kingdom decreased, while imports from Russia, Sweden, the Netherlands, the United States and China increased.