Monthly statistics on the international trade in goods, February 2017
Finnish Customs, Statistics
Both export and import prices rose in February
The value of Finnish exports of goods increased by six per cent in February year-on-year according to international trade statistics provided by Finnish Customs. The value of Finnish exports was 4,4 billion euros. Export prices increased by 7,6 per cent and export volume fell by 0,3 per cent. In January-February 2017 the value of exports rose by 17 per cent.
The value of imports increased by seven per cent in February and was 4,6 billion euros. Import prices increased by 9,2 per cent and import volume increased by 0,1 per cent. The value of imports increased by 16 per cent in January-February.
The balance of trade showed a deficit of 236 million euros in February. In February the previous year the trade deficit was 187 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 February because import prices grew more than export prices. The point figure in February was 101,9 while it was 103,4 February the previous year. The terms of trade deteriorated from the previous month's point figure of 102,1.
In February exports of petroleum products increased the most, but also other chemical industry and metal industry exports improved. Also exports of electrical machinery and equipment rose. Exports of forest industry products and industrial machinery and equipment along with transport equipment decreased. Imports of crude oil and refined oil products as well as imports of metals increased in February. Imports of electrical machinery and equipment also grew. The imports of industrial machinery and equipment together with transport equipment declined.
Exports to EU countries increased by seven per cent in February and exports outside the EU by five per cent. Imports from EU member states was at the same level as in February the year before, while imports from non-EU countries increased by 20 per cent. In January-February exports to both EU countries and to non-EU countries increased by 17 per cent. During the same period imports from EU countries rose by five per cent and from other countries by 36 per cent.
The greatest increase in exports in February was to Russia, to Sweden, to China and to the Netherlands. The exports decreased to Germany, to the United States and to France. Imports rose from Russia, Sweden, the Netherlands and from China. Imports fell from Germany, the United States and from the United Kingdom.
Table 1. Total development (e million)
|Exports (fob)||4 117||4 370||+6||7 698||8 986||+17|
|Imports (cif)||4 304||4 606||+7||8 319||9 688||+16|
Table 2. International trade indexes
|Unit value index|
|* Moving 12-months averages|
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