Monthly statistics on the international trade in goods, August 2017
Finnish Customs, Statistics
Both export volume and export prices increased in August
The value of Finnish exports of goods increased by 18 per cent in August according to international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was slightly over 4.7 billion euros. Export prices increased by 5.2 per cent and export volume by 14.2 per cent. In January-August the value of exports grew by 16 per cent.
The value of imports increased by ten per cent in August and was 4.9 billion euros. Import prices increased by 4.9 per cent and import volume by 6.5 per cent. In January-August the total import value increased by 14 per cent compared to same period of the previous year.
The balance of trade showed a deficit of 187 million euros in August. In January-August the balance of trade had a deficit of 1.4 billion euros. In August the previous year the trade deficit was 481 million euros, and in January-August the trade balance showed a deficit of almost two billion euros. The terms of trade for foreign trade are calculated based on the unit value index. Terms of trade show the ratio between export and import prices. The terms of trade improved in August because export prices grew more than import prices. The point figure in August was 100,7, while it was 100,5 August the previous year. The terms of trade weakened from the previous month's point figure of 102,4.
As in the previous months, exports grew steadily in almost all of the major commodity groups. The value of exports of cars, ore and concentrates increased sharply. Exports of instruments and meters, medicines and nickel declined. In imports, there was also growth in almost all major categories. Significant increase was recorded in the import of motor vehicle parts. Imports of consumer goods fell slightly.
Exports to EU member states increased by 21 per cent in August and exports to non-EU countries by 14 per cent. The most important export countries to rise in August were Germany, Sweden, the Netherlands, China and Russia. Exports to the United States and the United Kingdom decreased. Imports from EU countries increased by 11 per cent and imports from non-EU countries by eight per cent in August. Imports from the Netherlands and the United States decreased, while imports from Germany, Sweden, China, the United Kingdom and Russia increased.
Table 1. Total development (e million)
|Exports (fob)||3 993||4 723||+18||33 707||39 174||+16|
|Imports (cif)||4 474||4 911||+10||35 679||40 574||+14|
|Balance||-481||-187||-1 972||-1 401|
Table 2. International trade indexes
|Unit value index|
|* Moving 12-months averages|
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