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Export prices increased by over four per cent
Volume of exports of goods grew by 2.4 per cent in 2018

31.5.2019 9.48 | Published in English on 4.6.2019 at 10.01
Press release

According to Finnish Customs’ international trade in goods statistics, the value of Finland’s goods exports increased by seven per cent in 2018. The value of exports amounted to 63.7 billion euros. In 2018, the value of imports grew by seven per cent and amounted to 66.6 billion euros. The trade balance showed a deficit of almost 2.9 billion euros in 2018.

According to Finnish Customs’ international trade in goods statistics, the value of Finland’s goods exports increased by seven per cent in 2018. The value of exports amounted to 63.7 billion euros. The increase in the value of exports was due to the increase in both the volume of exports and the export prices. The export prices increased by 4.4 per cent, and the volume of exports by 2.4 per cent. In 2018, the value of imports grew by seven per cent and amounted to 66.6 billion euros. In terms of volume, imports decreased by 0.9 per cent, while import prices increased by 8.1 per cent. In 2017, the value of exports increased by 15 per cent and the volume of imports by 9.4 per cent. Export prices increased by 5.2 per cent that year. The value of imports grew by 14 per cent due to the increase of 8.2 per cent in volume and 5.0 per cent in prices.

The trade deficit increased somewhat in comparison with the previous year. The trade balance showed a deficit of almost 2.9 billion euros in 2018. The deficit in the trade with EU countries was 1.8 billion euros. In the trade with non-EU countries there was a deficit of 1.1 billion euros. The deficit in 2017 amounted to 2.8 billion euros. In 2017, the trade with EU countries showed a deficit of two billion euros, and the trade with non-EU countries had a deficit of 0.7 billion euros. In 2016, the trade deficit was 3.1 billion euros, and the trade with EU countries showed a deficit of 3.6 billion euros that year, but the trade with non-EU countries was in surplus by 0.4 billion euros.

Exports in almost all the main sectors increased in 2018, although the growth rate slowed down from the previous year. Exports of forest industry products grew by ten per cent. Exports of machinery and equipment increased by five per cent and the exports of metal industry products by 12 per cent. The value of exports of petroleum products grew also by 12 per cent, whereas exports from the rest of the chemical industry grew by four per cent. Exports of instruments and apparatus increased by ten per cent. Exports of transport equipment declined by four per cent. Exports of food decreased by four per cent.

In 2018, total imports of goods increased by seven per cent. Imports of capital goods grew by five per cent. Import of fuels and lubricants increased by 23 per cent and imports of industrial supplies by seven per cent. There was a 15 per cent increase in imports of transport equipment and parts and accessories thereof whereas imports of food and beverages grew only by one per cent. Imports of consumer goods increased by two per cent.

The value of exports to the EU countries increased by six per cent in 2018. Exports to the Eurozone went up by four per cent. Exports to non-EU countries grew by eight per cent. In 2017, exports to EU countries grew by 17 per cent and exports to non-EU countries by 13 per cent. In 2016, exports to both EU countries and non-EU countries shrank by four per cent. Imports from all EU countries grew by five per cent in 2018 and by 11 percent in 2017. In 2016, imports from within the EU were at the same level as the previous year. Imports from non-EU countries increased by ten per cent in 2018 and by 18 per cent in 2017. The year before, imports from outside the EU increased by two per cent.

The EU countries’ share of Finland’s exports decreased slightly in 2018, from 60.0 per cent in the previous year to 59.5 per cent. Also for imports, the EU countries’ share decreased slightly, from 60.7 per cent in the previous year to 59.6 per cent. Last year, the extra-EU trade had a 40.5 per cent share of exports and a 40.4 per cent share of imports, while the corresponding shares for 2017 were 39.3 per cent of imports and 40.0 per cent of exports.

Finnish Customs, Statistics
Enquiries:
Telasuo, Christina tel. +358 40 332 1828
Kaarna, Anssi tel. +358 40 332 8153
E-mail: [email protected]
Statistics bulletin