Monthly statistics on the international trade in goods, August 2018

31.10.2018 9.00

---

---

Finnish Customs, Statistics

Both export volume and export prices rose in August

The value of Finnish exports of goods increased by six per cent in August according to international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was almost 5.1 billion euros. Export prices increased by 6.0 per cent and export volume by 0.9 per cent. In January-August exports increased by seven per cent year-on-year.

The value of imports increased by nine per cent in August and was almost 5.5 billion euros. Import prices increased by 11.4 per cent while import volume remained at the level of the previous year. In January-August the total import value increased by six per cent year-on-year.

The balance of trade showed a deficit of 419 million euros in August. In January-August, the balance of trade had a deficit of over 1.6 billion euros. In August the previous year, the trade deficit was 259 million euros, and in January-August the trade balance showed a deficit of 1.7 billion 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 95.9, while it was 100.7 August the previous year. The terms of trade weakened from the previous month's point figure of 99.1.

Exports of industrial machinery, petroleum products, chemical industry products, forest industry products and metals improved compared to the previous year's August, while exports of electrical machinery and equipment and transport equipment declined. Imports of electrical machinery and equipment, crude oil and petroleum products, chemical industry products and metals increased, while imports of industrial machinery, transport equipment and food items decreased.

Exports to EU member states increased by one per cent in August and exports to non-EU countries by 14 per cent. The most important export countries to rise in August were Sweden, the Netherlands, the United States, China and France. Exports to Russia, Germany and the United Kingdom decreased. Imports from EU-countries increased by two per cent and imports from non-EU countries by 20 per cent in August. Imports from Germany, China and France decreased, while imports from Sweden, the Netherlands, the United States and the United Kingdom increased.

Table 1. Total development (e million)

Direction	August 2017	August 2018	Change %	January-August 2017	January-August 2018	Change %
Exports (fob)	4 769	5 054	+6	39 285	41 997	+7
Imports (cif)	5 027	5 473	+9	40 985	43 640	+6
Balance	-259	-419		-1 700	-1 643

Table 2. International trade indexes (2010=100)

Index	August 2017	August 2018	Change % 2018:08/2018:07	Change % 2018:08/2017:08	Mean * 2017:09-2018:08	Change % 2017:09-2018:08/ 2016:09-2017:08
Volume index exports	95,8	96,7	+3,4	+0,9	101,3	+4,6
Volume index imports	102,1	102,1	-0,8	+0,0	106,1	+2,2
Unit value index exports	111,9	118,7	-1,7	+6,0	115,6	+4,0
Unit value index imports	111,1	123,8	+1,5	+11,4	117,1	+6,8

* Moving 12-months averages

---

Further information:
Kaarna, Anssi tel. +358 40 332 8153
Riikonen, Johanna tel. +358 40 332 1824
forename.surname@tulli.fi

---

---