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Monthly statistics on the international trade in goods, January 2020

31.3.2020 9.00

Finnish Customs, Statistics

Both export volume and export prices fell in January

The value of Finnish exports of goods decreased by 17.3 per cent year-on-year in January, according to the international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was EUR 4.8 billion. Export volumes decreased by 16.6 per cent and export prices by modest 0.1 per cent year-on-year. The value of imports declined by 3.7 per cent in January to about EUR 5.1 billion. Import prices increased by 3.5 per cent, but import volumes decreased by 5.9 per cent compared to January 2019.

In January, the trade balance showed a deficit of EUR 300 million. In January 2019, the trade balance had a surplus of EUR 516. The terms of trade for international 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 compared to the corresponding month of 2019 as import prices increased and export prices fell. The point figure in January was 96.8, while it was 100.3 in January 2019. The terms of trade declined also from the December 2019 point figure of 98.6.

The export value of most main commodity groups declined in January. The value of exports of transport equipment fell drastically (-67.8%) due to high vessel exports in the reference month. The impact on total exports was significant and partly explain the steep drop in overall exports in January compared to the previous year. Calculated without the impact of vessel deliveries in reference month, total exports would have decreased by 6.8 per cent in January. The export value of forest industry products diminished by 13.9 per cent and of petroleum products 24.1 per cent. Exports of other chemical industry products declined by 9.1 per cent and of metals and metal products by 7.5 per cent. Exports of industrial machinery and equipment increased by 3.0 per cent, but of electrical machinery and equipment decreased by 3.9 per cent. Exports of food declined by 1.4 per cent, but exports of instruments and apparatus increased by 8.1 per cent.

The value of imports of industrial supplies fell by 4.1 per cent and of capital goods by 3.8 per cent in January. The value of imports of processed fuels and lubricants diminished by 20.7 per cent, but imports of primary fuels rose by 2.4 per cent. Imports of transport equipment and parts decreased by 3.5 per cent. Imports of consumer goods decreased by 3.5 and of food and beverages increased 0.9 per cent in January.

Exports to EU countries decreased by 21.0 per cent and exports to countries outside the EU fell by 11.2 per cent in January. Exports to the Netherlands and China increased in January, but exports to other major export countries declined. Imports from EU countries fell by 4.7 per cent, while imports from outside the EU declined by 2.2 per cent in January. Imports from USA, China and the Netherlands increased, while imports from Germany, Sweden and Russia declined in January.

Table 1. Total development (e million)

Direction January 2019 January 2020 Change %
Exports (fob) 5 837 4 825 -17,3
Imports (cif) 5 321 5 125 -3,7
Balance 516 -300  

Table 2. International trade indexes (2010=100)

Index January 2019 January 2020 Change %
Change %
Mean *
Change %
Volume index exports 112,3 93,7 -13,5 -16,6 101,4 -1,3
Volume index imports 104,1 97,9 -4,4 -5,9 105,8 +0,4
Unit value index exports 117,0 117,0 -0,6 -0,1 118,6 +0,9
Unit value index imports 116,7 120,9 +1,3 +3,5 118,1 -1,5

* Moving 12-months averages

Free access to detailed statistics on the international trade in goods through Uljas

Further information:
Kaarna, Anssi tel. +358 40 332 8153
Telasuo, Christina tel. +358 40 332 1828
[email protected]

Exports and imports of Finland 2017-2020
  • Exports and imports of Finland 2017-2020

Monthly statistics on the international trade Official Statistics of Finland
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