Monthly statistics on the foreign trade of goods, August 2016
Finnish Customs, Statistics
Export volume decreased while export prices grew in August
The value of Finnish exports of goods decreased by two per cent in August according to foreign trade statistics provided by Finnish Customs. The value of Finnish exports was slightly over 3.9 billion euros. Export prices increased by 0.6 per cent while export volume decreased by 2.1 per cent. In January-August exports diminished by five per cent.
The value of imports increased by four per cent in August and was 4.4 billion euros. Import prices increased by 2.4 per cent and import volume by 2.9 per cent. In January-August, the total import value decreased by one per cent compared to the previous year.
The balance of trade showed a deficit of 462 million euros in August. In January-August the balance of trade had a deficit of slightly over 1.7 billion euros. In August the previous year the trade deficit was 226 million euros, and in January-August the trade balance showed a surplus of 36 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 August because import prices grew more than export prices. The point figure in August was 100.5, while it was 102,3 August the previous year. The terms of trade also weakened from the previous month's point figure of 100.6.
Exports of electrical machinery and equipment and metals improved compared to the previous year's August, while exports of other major goods declined. Imports of consumer goods, capital goods and intermediate goods increased, while energy imports decreased.
Both exports to EU member states and exports to non-EU countries decreased by two per cent in August. The most important export countries to rise in August were the United States, China, the United Kingdom, France and Russia. Exports to Germany, Sweden and the Netherlands decreased. Imports from EU-countries remained at the level of the previous year, while imports from non-EU countries rose by nine per cent in August. Imports from Germany, Sweden, the United Kingdom and France decreased, while imports from the Netherlands, the United States, Russia and China increased.
Table 1. Total development (e million)
|Exports (fob)||4 013||3 931||-2||35 600||33 645||-5|
|Imports (cif)||4 239||4 392||+4||35 564||35 386||-1|
Table 2. Foreign trade indexes
|Unit value index|
|* Moving 12-months averages|
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