Monthly statistics on the international trade in goods, August 2020
Finnish Customs, Statistics
Both export volume and export prices fell in August
The value of Finnish exports of goods decreased by 14.5 per cent year-on-year in August, according to the international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was EUR 4.3 billion. Export volumes decreased by 11.8 per cent and export prices by 2.3 per cent year-on-year. The value of imports declined by 13.9 per cent in August to EUR 4.6 billion. Import prices increased by 0.1 per cent but import volumes declined by 13.1 per cent compared to August 2019. In January-August, the aggregated value of exports decreased by 16.3 per cent and the value of imports by 12.2 per cent compared with the corresponding period last year.
In August 2020, the trade balance showed a deficit of EUR 256 million. In January-August 2020, the trade balance had a deficit of EUR 2.4 billion. The deficit was almost EUR 1.7 billion larger than in the corresponding period last year. The aggregated trade balance surplus by commodity group decreased in the trade in forest industry products and metal products in January-August compared with the corresponding period last year. The surplus in the trade in industrial machinery and equipment increased slightly from the corresponding period last year. The deficit increased in the trade in transport equipment and electrical machinery and equipment, but decreased in the trade in oil and petroleum products and foodstuffs.
The terms of trade weakened in August compared to the corresponding month of 2019 as export prices fell and import prices increased slightly. The point figure in August was 99.0, while it was 101.5 in August 2019. The point figure also weakened from August 2020.
The value of exports of capital goods decreased by 8.9 per cent and the value of exports of industrial supplies by 19.6 per cent in August. The value of exports of fuels and lubricants decreased by 28.7 per cent. The value of exports of consumer goods fell by 5.4 per cent, but the value of exports of food and beverages rose by 2.2 per cent. The value of exports of transport equipment and parts and accessories rose by 1.8 per cent.
The value of imports of food and beverages decreased by 7.9 per cent and the value of imports of other consumer goods by 1.9 per cent. The value of imports of industrial supplies decreased by 18.2 per cent. The value of imports of capital goods decreased by 2.5 per cent and the value of imports of transport equipment by 2.6 per cent. The sharpest decline in the value of imports was for fuels and lubricants. The value of imports fell by 45.0 per cent in August compared with the corresponding month last year.
Exports to EU countries fell by 13.8 per cent and exports to non-EU countries by 15.2 per cent in August. Imports from EU countries declined by 11.1 per cent and from non-EU countries by 17.6 per cent in August. In January-August, exports to EU countries declined by 15.8 per cent and to non-EU countries by 16.8 per cent. During the same period imports from EU countries decreased by 10.5 per cent and from non-EU countries by 14.6 per cent.
|Direction||August 2019||August 2020||Change %||January-August 2019||January-August 2020||Change %|
|Exports (fob)||5 075||4 341||-14,5||43 213||36 183||-16,3|
|Imports (cif)||5 339||4 597||-13,9||43 985||38 610||-12,2|
|Index||August 2019||August 2020||Change %
|Volume index exports||97,0||85,5||-0,8||-11,8||93,5||-9,0|
|Volume index imports||104,9||91,2||-6,2||-13,1||98,8||-7,4|
|Unit value index exports||118,0||115,3||+0,1||-2,3||116,2||-2,1|
|Unit value index imports||116,3||116,5||+1,3||+0,1||116,8||-1,6|
* Moving 12-months averages
Kaarna, Anssi tel. +358 40 332 1853
Telasuo, Christina tel. +358 40 332 1828