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Export prices increased by one per cent
Volume of exports increased by 1.1 per cent in 2019

5.6.2020 12.20 | Published in English on 18.6.2020 at 10.47
Press release

According to Finnish Customs’ international trade in goods statistics, the value of Finland’s goods exports increased by 2.1 per cent in 2019. The value of exports amounted to 65.0 billion euros. However, the value of imports decreased by 1.2 per cent and amounted to 65.8 billion euros. The trade balance showed a deficit of 737 million.

According to Finnish Customs’ international trade in goods statistics, the value of Finland’s goods exports increased by 2.1 per cent in 2019. The value of exports amounted to 65.0 billion euros. The increase in the value of exports was due to the increase in both the volume of exports and the export prices. The export prices increased by 1.0 per cent, and the volume of exports by 1.1 per cent. However, the value of imports decreased by 1.2 per cent and amounted to 65.8 billion euros. The volume of import increased by 0.8 per cent, but the import prices decreased by 1.8 per cent. In 2018, the value of exports increased by 6.6 per cent, and the volume of exports by 2.4 per cent. Export prices increased by 4.4 per cent that year. The value of imports grew also by 6.6 per cent due to the increase of 8.1 per cent in import prices. The volume of import decreased by 0.9 per cent.

In 2019, the balance of trade deficit was significantly lower than the previous year. The trade balance showed a deficit of 737 million. The deficit the previous year amounted to 2.9 billion euros. The deficit in the trade with EU countries in 2019 was 1.3 billion euros. In the trade with non-EU countries, however, there was a surplus of 524 million euros. In 2018, the deficit in the trade with EU countries was 1.8 billion euros. However, in the trade with non-EU countries there was a deficit of 1.1 billion euros.

In almost all the main sectors, the growth of exports slowed down or decreased in 2019. An exception was the export of transport equipment, which increased the most, 2.2. per cent, as well as the export of foodstuffs, which increased by 14.4. per cent. Exports of forest industry products as a whole fell by 5.5 percent. Exports of machinery and equipment grew by 2.3 per cent and the export of metal industry products remained at roughly the same level as the previous year. The value of exports of petroleum products grew by 6.9 per cent, whereas exports from the rest of the chemical industry decreased by 2.7 per cent. Exports of instruments and apparatus increased by 8.4 per cent.

In 2019, the total value of imported goods fell by 1.2 per cent. Imports of investment goods decreased by 0.3 per cent; imports of fuels and lubricants by 3.9 per cent as well as the import of industrial production supplies by 5.2 per cent. The imports of transport equipment and their spare parts and accessories increased by 6.1 per cent, but the import of foodstuffs and drinks only by 1.4 per cent, and consumer goods by 1.8 per cent.

The value of exports to EU countries increased by 1.9 per cent in 2019. Exports to the eurozone went up by 3.7 percent. Exports to non-EU countries grew by 2.5 per cent. In 2018, exports to EU countries increased by 5.7 percent and to other countries by 8.1 per cent. In 2017, exports to EU countries increased by 16.9 per cent, and exports to non-EU countries by 12.5 per cent.

Imports from EU countries increased by 0.4 per cent in 2019. However, the imports from non-EU countries decreased by 3.5 per cent. In 2018, EU imports increased by 4.8 percent and imports from other countries by 9.4 per cent. In 2017, imports from EU countries increased by 10.7 percent and imports from other countries by 18.3 per cent.

The EU countries’ share of Finland’s exports decreased slightly in 2019 from 59.5 per cent in the previous year to 59.3 per cent. As for imports, the EU countries’ share increased from 59.7 per cent in the previous year to 60.6 per cent. The shares in the trade with countries outside the EU changed correspondingly. Last year, the EU external trade had a 40.7 per cent share of exports and a 39.4 per cent share of imports, while the corresponding shares for 2018 were 40.3 per cent of imports and 40.5 per cent of exports.

Finnish Customs, Statistics
Enquiries:
Telasuo, Christina tel. +358 40 332 1828
Kaarna, Anssi tel. +358 40 332 8153
Email: [email protected]
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