Monthly statistics on the international trade in goods, May 2018

31.7.2018 9.00

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Finnish Customs, Statistics

Export volume decreased while export prices grew in May

The value of Finnish exports of goods decreased by five per cent in May according to international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was slightly over 5.3 billion euros. Export prices increased by 3.8 per cent while export volume decreased by 7.6 per cent. In January-May exports increased by seven per cent.

The value of imports increased by four per cent in May and was 5.6 billion euros. Import prices increased by 6.9 per cent while import volume decreased by 1.1 per cent. In January-May, the total import value increased by six per cent compared to the previous year.

The balance of trade showed a deficit of 273 million euros in May. In January-May, the balance of trade had a deficit of 801 million euros. In May the previous year, the trade surplus was 205 million euros, and in January-May the trade balance showed a deficit of 996 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 May because import prices grew more than export prices. The point figure in May was 98.6, while it was 101.5 May the previous year. The terms of trade improved from the previous month's point figure of 96.7.

Exports of industrial machinery, forest products, metals, ores and cars increased in May. The value of exports of transport equipment, electrical equipment and machinery, petroleum products and other chemical products and instruments and meters decreased.

Exports to EU member states decreased by ten per cent in May while exports to non-EU countries increased by three per cent. The most important export countries to rise in May were Russia, Sweden, China, the United Kingdom and France. Exports to Germany, the Netherlands and the United States decreased. Both imports from EU countries and non-EU countries increased by four per cent in May. Imports from China and France decreased, while imports from Russia, Germany, Sweden, the Netherlands and the United States increased.

Table 1. Total development (e million)
	May		Change	January-May		Change
	2017	2018	%	2017	2018	%
Exports (fob)	5 604	5 328	-5	24 633	26 374	+7
Imports (cif)	5 399	5 601	+4	25 628	27 175	+6
Balance	205	-273		-996	-801

Table 2. International trade indexes
2010=100	May		Change		Mean*	Change
	2017:05	2018:05	2018:05/ 2018:04	2018:05/ 2017:05	2017:06-2018:05	2017:06-2018:05/ 2016:06-2017:05
Volume index
Exports	112,2	103,7	-5,8	-7,6	101,4	+6,8
Imports	110,5	109,3	+3,0	-1,1	107,0	+5,5
Unit value index
Exports	112,4	116,7	+2,7	+3,8	113,8	+3,4
Imports	110,7	118,4	+0,7	+6,9	113,8	+4,8
* Moving 12-months averages

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Further information:
Kaarna, Anssi tel. +358 40 332 8153
Penttilä, Olli-Pekka tel. +358 40 332 1862
forename.surname@tulli.fi

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