Trade balance shows €526m surplus in January

The balance of trade showed a surplus of 526 million euros in January, according to international trade statistics by Finnish Customs.

In January 2018, the trade deficit was 197 million euros. The value of Finnish exports of goods increased by 10 per cent in January year-on-year. The value of Finnish exports was 5.8 billion euros. Export prices rose by 1.0 per cent and export volume by 10.5 per cent, said a Customs press release.

The value of imports decreased by three per cent in January and was 5.3 billion euros. Import volume decreased by 1.2 per cent, but import prices remained at the level of the previous year.

The value of exports increased mainly due to a cruise ship and an airplane export in January.

The value of paper and cardboard and paper pulp exports increased in January. The increase in the value of exports of mechanical forest industry products was slightly slower. Exports of machinery and equipment fell slightly, but the decline in the value of passenger car exports was steeper.

The value of exports of refined petroleum products declined, while the value of exports of basic chemicals grew slowly. The value of iron and steel exports increased, but the value of exports of copper, zinc and nickel fell.

Exports of instruments and meters and ores declined. The value of food and consumer goods imports increased, but imports from other main categories fell in January.

Exports to EU member states increased by 16 per cent in January and exports to non-EU countries three per cent.

Exports to Germany, Sweden and the United States increased in January, but exports to the Netherlands, China, the United Kingdom and Russia decreased.

Imports from EU countries remained at the level of the previous year, but imports from non-EU countries decreased by eight per cent in January.

Imports from Sweden and the United Kingdom grew in January, but fell from other major trading partners.