The trade deficit amounted to 2.3 billion euros
Decline in export prices pulled export value below zero in 2013
According to Finnish Customs’ foreign trade statistics, the value of Finland’s goods exports went down by two per cent in 2013 when compared to the previous year. The value of exports amounted to 55.9 billion euros. Last year the value of imports also decreased by two per cent and amounted to 58.1 billion euros. The trade balance showed a deficit of 2.3 billion euros in 2013.
According to Finnish Customs’ foreign trade statistics, the value of Finland’s goods exports went down by two per cent in 2013 when compared to the previous year. The value of exports amounted to 55.9 billion euros. The decline in export value was mainly caused by the fall in export prices. The export volume decreased by 0.6 per cent, and export prices went down by 1.9 per cent. Last year the value of imports also decreased by two per cent and amounted to 58.1 billion euros. The decrease in the volume of import had the biggest effect on the value of import. Import prices reduced by one per cent, whereas the volume of import decreased by 1.8 per cent.
The trade deficit decreased somewhat in comparison with the previous year. The trade balance showed a deficit of 2.3 billion euros in 2013. The deficit in 2012 amounted to 2.6 billion euros. The deficit in trade with EU countries was just over two billion euros and 221 million euros in external trade in 2013. In 2012, the external trade deficit was 1.4 billion euros and that of EU trade was 1.2 billion euros.
Exports of machinery and transport equipment and of electric and electronic products went down last year and caused a decrease in overall exports. However, chemical industry exports increased in 2013. Oil products comprised the most significant branch of growth within exports, but there was also a slight increase in the exports of chemical substances and chemical industry products. Forest industry exports also increased, with the exception of paper industry products.
Due to decreased imports of intermediate goods and capital goods, overall imports took a downturn of two per cent last year. Imports of energy products, however, increased to some extent. Imports of consumer goods remained almost at the level of the previous year.
The weakened foreign trade into non-EU countries caused a decrease in both overall exports and total imports in 2013. Exports to non-EU countries decreased by five per cent, and imports from non-EU countries decreased by nine per cent. The volume index of foreign trade exports declined by 4.3 per cent, but the export prices decreased only by 1.2 per cent. The volume index of foreign trade imports went down by 6.5 per cent and import prices decreased by three per cent.
The value of export to EU countries rose by one per cent in 2013. In late 2013, however, exports to EU countries increased distinctly in comparison with the start of the year. The volume of export to EU countries expanded by 2.3 per cent in 2013, even though the export prices went down by two per cent at the same time. Last year, exports to the EU territory increased slightly more than exports to the entire EU territory, by two per cent. In 2012, exports to EU countries decreased by four per cent, whereas exports to non-EU countries increased by five per cent. In 2013 the value of imports from all EU countries increased by four per cent and exports from the Eurozone rose by one per cent. Last year the volume of import from EU countries expanded by 2.4 per cent and import prices increased by 0.6 per cent.
Ms Christina Telasuo, Senior Customs Officer, tel. +358 40 332 1828
Mr Matti Heiniemi, Senior Customs Officer, tel. +358 40 332 1845
E-mail: [email protected]