Monthly statistics on the international trade in goods, July 2020
Finnish Customs, Statistics
Both export volume and export prices fell in July
The value of Finnish exports of goods decreased by 13.8 per cent year-on-year in July, according to the international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was almost EUR 4.4 billion. Export volumes decreased by 10.3 per cent and export prices by 3.2 per cent year-on-year. The value of imports declined by 13.1 per cent in July to EUR 4.8 billion. Import prices decreased by 2.4 per cent and import volumes by 9.6 per cent compared to July 2019. In January-July, the aggregated value of exports decreased by 16.8 per cent and the value of imports by 12.2 per cent compared with the corresponding period last year.
In July 2020, the trade balance showed a deficit of EUR 465 million. In July 2019, the trade balance had a deficit of EUR 498 million. In January-July 2020, the trade balance had a deficit of about EUR 2.2 billion, while there was a deficit of EUR 508 million in January-July 2019. The terms of trade for international trade are calculated based on the unit value index. Terms of trade show the ratio between export and import prices. The terms of trade weakened compared to the corresponding month of 2019 as export prices fell more than import prices fell. The point figure in July was 100.2, while it was 101.0 in July 2019. The point figure remained unchanged from June 2020.
Exports of machinery and transport equipment declined by 4.1 per cent in July. Exports of forest industry products diminished by 17.6 per cent. Exports of metals and metal products decreased by 34.1 per cent. Exports of chemicals and related products declined by 5.9 per cent. The value of exports of petroleum products declined by 23.7 per cent. Exports of foodstuff increased by 6.0 per cent, but exports of instruments and apparatus declined by 24.4 per cent.
The value of imports of industrial supplies fell by 12.8 per cent, and imports of capital goods by 7.0 per cent in July. The value of imports of fuels and lubricants diminished by 32.2 per cent. Imports of transport equipment and parts decreased by 14.2 per cent. Imports of consumer goods decreased by 9.0 per cent and of food and beverages by 1.5 per cent in July.
Exports to EU countries fell by 9.9 per cent and exports to non-EU countries by 17.9 per cent in July. Imports from EU countries declined by 11.4 per cent and from non-EU countries by 15.3 per cent in July. Exports to almost all major trading partners decreased in July. Exports to Germany decreased by 15.0 per cent, exports to Sweden by 7.5 per cent and exports to the United States by 38.2 per cent. Exports to the Netherlands increased by 3.3 per cent. Imports from China increased by 1.9 per cent and from the United Kingdom by 31.1 per cent, but imports from other major import countries decreased in July. Imports from Germany decreased by 17.0 percent and imports from Sweden by 13.2 percent. In January-July, exports to EU countries declined by 16.5 per cent and to non-EU countries by 17.1 per cent. During the same period imports from EU countries decreased by 10.7 per cent and from non-EU countries by 14.3 per cent.
|Direction||July 2019||July 2020||Change %||January-July 2019||January-July 2020||Change %|
|Exports (fob)||5 073||4 375||-13,8||38 137||31 747||-16,8|
|Imports (cif)||5 571||4 839||-13,1||38 645||33 921||-12,2|
|Index||July 2019||July 2020||Change %
|Volume index exports||96,2||86,2||-3,5||-10,3||94,5||-8,1|
|Volume index imports||107,6||97,2||+2,0||-9,6||99,9||-6,1|
|Unit value index exports||119,0||115,2||+1,2||-3,2||116,4||-2,0|
|Unit value index imports||117,9||115,0||+1,2||-2,4||116,8||-2,1|
* Moving 12-months averages
Kaarna, Anssi tel. +358 40 332 1853
Telasuo, Christina tel. +358 40 332 1828