Monthly statistics on the international trade in goods, February 2018
Finnish Customs, Statistics
Both export volume and export prices continued to rise in February
The value of Finnish exports of goods increased by nine per cent in February according to international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was 4.8 billion euros. Export prices increased by 2.4 per cent and export volume increased by 6.9 per cent. In January-February exports increased by 11 per cent.
The value of imports increased by nine per cent in February and was 5.1 billion euros. Both import prices and import volume increased by 5.3 per cent. In January-February the total import value increased by six per cent compared to the previous year.
The balance of trade showed a deficit of 326 million euros in February. In January-February the balance of trade had a deficit of 484 million euros. In February the previous year the trade deficit was 301 million euros, and in January-February the trade balance showed a deficit of 838 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 February because import prices grew more than export prices. The point figure in February was 99.1, while it was 101.9 February the previous year. The terms of trade weakened from the previous month's point figure of 99.3.
In February, the exports of forest industry products increased. Paper and paperboard exports increased steadily, paper pulp exports significantly faster. The value of lumber exports also rose. The value of exports of passenger cars grew. Exports of oil and other chemical products also grew. The total exports of industrial machinery and equipment grew slightly, but the value of exports of electrical machinery and equipment declined. The value of iron and steel exports declined due to lower export prices, but the growth in copper and nickel exports was rapid. The exports of medical instruments also grew significantly. The value of food imports declined, but the value of consumer goods imports remained at the level of February last year. The value of imports of other main groups increased.
Exports to EU member states increased by eight per cent in February and exports to non-EU countries by 12 per cent. The most important export countries to rise in February were Germany, Sweden, the United States, China, France and Russia. Exports to the Netherlands decreased. Both imports from EU countries and non-EU countries increased by nine per cent in February. Imports from the Netherlands and the United States decreased, while imports from Germany, Sweden, China, the United Kingdom, Russia and France increased.
Table 1. Total development (e million)
|Exports (fob)||4 373||4 781||+9||9 005||9 986||+11|
|Imports (cif)||4 674||5 107||+9||9 843||10 470||+6|
Table 2. International trade indexes
|Unit value index|
|* Moving 12-months averages|
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