Monthly statistics on the international trade in goods, May 2020
Finnish Customs, Statistics
Both export volume and export prices fell in May
The value of Finnish exports of goods decreased by 31.0 per cent year-on-year in May, according to the international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was EUR 4.0 billion. Export volumes decreased by 25.6 per cent and export prices by 6.4 per cent year-on-year. The value of imports declined by 26.2 per cent in May to EUR 4.3 billion. Import prices decreased by 2.7 per cent and import volumes by 23.0 per cent compared to May 2019. In January-May, the aggregated value of exports decreased by 17.8 per cent and the value of imports by 12.7 per cent compared with the corresponding period last year.
In May 2020, the trade balance showed a deficit of EUR 294 million. In May 2019, the trade balance had a deficit of EUR 20 million. In January-May 2020, the trade balance had a deficit of about EUR 1.5 billion, while there was a deficit of EUR 86 million in January-May 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 May was 99.5, while it was 103.4 in May 2019. The terms of trade declined also from the April 2020 point figure of 99.4.
Exports of machinery and transport equipment declined by 35.1 per cent in May. Exports of forest industry products diminished by 23.6 per cent. Exports of metals and metal products decreased by 36.7 per cent. Exports of chemicals and related products declined by 17.9 per cent. The value of exports of petroleum products declined by 52.9 per cent. Exports of food decreased by 8.5 per cent and of instruments and apparatus by 37.1 per cent.
The value of imports of industrial supplies fell by 16.7 per cent and of capital goods by 21.5 per cent in May. The value of imports of fuels and lubricants diminished by 54.8 per cent. Imports of transport equipment and parts decreased by 54.3 per cent. Imports of consumer goods decreased by 6.6 per cent and of food and beverages by 16.3 per cent in May.
Exports to EU countries fell by 31.9 per cent and exports outside the EU by 29.9 per cent in May. Imports from both EU countries and from countries outside the EU decreased by 26.2 per cent in May. Exports to all major trading partners decreased in May. Exports to Germany decreased by 51.2 percent, exports to Sweden by 21.3 percent and exports to the Netherlands by 24.0 percent. Imports from China increased by 13.4 percent, but imports from other major import countries decreased in May. Imports from Germany decreased by 32.5 percent and imports from Sweden by 21.8 percent. In January-May, exports to EU countries declined by 18.2 and to non-EU countries by 17.3 per cent. During the same period imports from EU countries decreased by 11.6 per cent and from outside the EU by 14.1 per cent.
|Direction||May 2019||May 2020||Change %||January-May 2019||January-May 2020||Change %|
|Exports (fob)||5 819||4 015||-31,0||27 802||22 845||-17,8|
|Imports (cif)||5 839||4 309||-26,2||27 888||24 353||-12,7|
|Index||May 2019||May 2020||Change %
|Volume index exports||108,3||80,5||-8,1||-25,6||96,2||-6,4|
|Volume index imports||113,6||87,4||2,0||-23,0||101,1||-4,8|
|Unit value index exports||120,9||113,2||-0,9||-6,4||117,1||-1,5|
|Unit value index imports||117,0||113,8||-1,0||-2,7||117,4||-2,3|
* Moving 12-months averages
Kaarna, Anssi tel. +358 40 332 1853
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