Monthly statistics on the international trade in goods, November 2020
Finnish Customs, Statistics
Export volume increased while export prices fell in November
The value of Finnish exports of goods decreased by 3.4 per cent year-on-year in November, according to the international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was EUR 5.0 billion. Export volume increased by 1.1 per cent, but export prices decreased by 3.6 per cent year-on-year. The value of imports declined by 2.0 per cent in November to EUR 5.1 billion. Import prices decreased by 2.5 per cent, but import volumes increased by 0.9 per cent compared to November 2019. In January-November, the aggregated value of exports decreased by 13.7 per cent and the value of imports by 10.3 per cent compared with the corresponding period last year.
In November 2020, the trade balance showed a deficit of EUR 182 million. In January-November 2020, the trade balance had a deficit of EUR 3.0 billion. The deficit was EUR 1.9 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-November 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 November compared to the corresponding month of 2019 as export prices fell more than import prices. The point figure in November was 97.8, while it was 98.8 in November 2019. The terms of trade weakened also from October 2020.
The value of exports of capital goods decreased by 8.5 per cent, but the value of exports of industrial supplies increased by 0.2 per cent in November. The value of exports of fuels and lubricants decreased by 41.4 per cent. The value of exports of consumer goods increased by 15.4 per cent, but the value of exports of food and beverages decreased by 10.3 per cent. The value of exports of transport equipment and parts and accessories increased by 24.2 per cent.
The value of imports of food and beverages decreased by 3.5 per cent, but the value of imports of consumer goods increased by 5.5 per cent. The value of imports of industrial supplies increased by 6.4 per cent. The value of imports of capital goods decreased by 1.6 per cent, but the value of imports of transport equipment rose by 7.8 per cent. The sharpest decline in the value of imports was for fuels and lubricants. The value of imports fell by 39.9 per cent in November compared with the corresponding month last year.
Exports to EU countries fell by 0.1 per cent and exports to non-EU countries by 7.3 per cent in November. Imports from EU countries increased by 0.3 per cent, but imports from non-EU countries decreased by 5.3 per cent in November. In January-November, exports to EU countries declined by 12.4 per cent and to non-EU countries by 15.3 per cent. During the same period imports from EU countries decreased by 8.5 per cent and from non-EU countries by 12.9 per cent.
|Direction||November 2019||November 2020||Change %||January-November 2019||January-November 2020||Change %|
|Exports (fob)||5 125||4 952||-3,4||59 400||51 267||-13,7|
|Imports (cif)||5 239||5 134||-2,0||60 564||54 302||-10,3|
|Balance||-114||-182||-1 165||-3 035|
|Index||November 2019||November 2020||Change %
|Volume index exports||97,8||98,9||-2,1||1,1||92,8||-8,8|
|Volume index imports||101,1||102,0||-1,5||0,9||98,0||-8,0|
|Unit value index exports||117,9||113,7||-0,4||-3,6||114,9||-3,2|
|Unit value index imports||119,2||116,2||0,9||-2,5||116,3||-1,2|
* Moving 12-months averages
Kaarna, Anssi tel. +358 40 332 1853
Telasuo, Christina tel. +358 40 332 1828