Monthly statistics on the international trade in goods, July 2019
Finnish Customs, Statistics
Export volumes increased, but export prices fell slightly in July
The value of Finnish exports of goods increased by 0.7 per cent year-on-year in July, according to the international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was five billion euros. Export prices decreased by 1.4 per cent, but export volume rose by 2.8 per cent. In January-July, the value of exports increased by 3.2 per cent year-on-year.
The value of imports increased by 1.8 per cent in July and was about 5.5 billion euros. Import volume increased by 4.4 per cent, but import prices fell by 3.3 per cent year-on-year. In January-July, the value of imports declined by 0.2 per cent compared to the previous year.
The balance of trade showed a deficit of 448 million euros in July. In January-July, the trade balance showed a deficit of 315 million euros. In July 2018, the trade balance had a deficit of 384 million euros, and in January-July, there was a deficit of almost 1.6 billion euros.
The terms of trade for international trade are calculated based on the unit value index. Terms of trade show the ratio between export and import prices. The terms of trade improved in July because export prices declined less than import prices. The point figure in July was 101.0, while it was 99.1 in July 2018. The terms of trade declined from the June 2019 point figure of 100.9.
The value of exports of industrial machinery and equipment, and the value of exports of electrical machinery and equipment increased in July. Exports of transport equipment increased also. As in recent months, the value of metal exports was boosted by exports of gas pipelines to the high seas and Russia. Exports of oil products and forestry industry products declined in July as well as exports of chemical industry products. The import value in all main commodity groups increased in July except in fuels and lubricants.
Exports to EU countries fell by three per cent, but exports to non-EU countries rose by six per cent in July. Exports to the US, Germany and Russia increased in July, but exports to other major trading partners declined. Imports from EU countries increased by three per cent and imports from non-EU countries by one per cent in July. Imports from China and the Germany increased, while imports from other major trading partners declined. In January-July, exports to EU countries grew by one per cent and exports to non-EU countries by six per cent. During the same period, imports from EU countries rose one per cent, but imports from outside the EU fell by two per cent.
|Table 1. Total development (e million)|
|Exports (fob)||5 004||5 040||+0,7||36 845||38 028||+3,2|
|Imports (cif)||5 389||5 488||+1,8||38 404||38 343||-0,2|
|Table 2. International trade indexes|
|Unit value index|
|* Moving 12-months averages|
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