Monthly statistics on the foreign trade of goods, July 2016
Finnish Customs, Statistics
Both export volume and export prices fell in July
The value of Finnish exports of goods decreased by 13 per cent in July according to foreign trade statistics provided by Finnish Customs. The value of Finnish exports was 3.9 billion euros. Export prices decreased by 1.4 per cent and export volume by 10.6 per cent. In January-July exports diminished by six per cent compared to the previous year.
The value of imports decreased by seven per cent in July and was 4.2 billion euros. Import prices decreased by 0.6 per cent and import volume by 4.7 per cent. In January-July, the total import value decreased by one per cent compared to the previous year.
The balance of trade showed a deficit of 273 million euros in July. In January-July, the balance of trade had a deficit of almost 1.4 billion euros. In July the previous year the trade deficit was four million euros, while in January-July the trade balance showed a surplus of 262 million 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 weakened in July because export prices fell more than import prices. The point figure in July was 100.6, while it was 101.4 in July the previous year. The terms of trade also weakened from the previous month's point figure of 103.2.
The total exports of all main industrial product groups declined in July. The steepest decline was recorded for transportation equipment, due to the fall of the value of passenger car exports. Exports of diagnostic and X-ray equipment, power machines and engines, as well as medicines and pharmaceutical products increased. Imports of almost all major categories of goods fell in July. The value of imports of medicinal products and special-purpose industrial machinery increased slightly, while the growth in the value of imports of power machines and engines was stronger.
Exports to EU member states decreased by 11 per cent in July and exports to non-EU countries by 15 per cent. Exports to all major trading partners decreased. Imports from EU-countries decreased by five per cent and imports from non-EU countries by nine per cent in July. Imports from the United Kingdom increased, while imports from other major trading partners decreased.
Table 1. Total development (e million)
|Exports (fob)||4 483||3 917||-13||31 588||29 642||-6|
|Imports (cif)||4 486||4 191||-7||31 326||31 001||-1|
Table 2. Foreign trade indexes
|Unit value index|
|* Moving 12-months averages|
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