Monthly statistics on the international trade in goods, December 2018
Finnish Customs, Statistics
Both export volume and export prices rose in December
The value of Finnish exports of goods increased by three per cent in December year-on-year, according to international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was 4.9 billion euros. Export prices rose by 3.2 per cent and export volume by 0.8 per cent. In January-December exports increased by seven per cent year-on-year.
The value of imports increased by four per cent in December and was 5.3 billion euros. Import prices increased by 1.3 per cent and import volume by 4.2 per cent. In January-December, the total import value rose by six per cent compared to the previous year.
The balance of trade showed a deficit of 427 million euros in December. In January-December, the balance of trade had a deficit of slightly over 2.6 billion euros. In December 2017, the trade deficit was 350 million euros, and in January-December the trade balance showed a deficit of almost 2.8 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 improved in December because export prices grew more than import prices. The point figure in December was 100.8, while it was 98.9 December the previous year. The terms of trade improved also from the previous month's point figure of 96.9.
Exports of machinery and equipment declined slightly in December. Exports of passenger cars grew steadily. Exports of oil products fell sharply. Exports of other chemical products were close to the December 2017 level. The strong growth rate in exports of chemical forest industry products continued in December, but the value of timber exports fell sharply. Exports of copper, zinc and nickel declined. Exports of instruments and apparates increased sharply in December.
Imports of fuels and lubricants increased significantly in December. Imports of industrial supplies and transport equipment grew also. Imports of capital goods, consumer goods and food decreased.
Exports to EU member states increased by five per cent in December, but exports to non-EU countries remained at the level of the previous year. Exports to the United Kingdom and China decreased, but increased to other major export countries. Imports from EU countries declined by one per cent, but imports from non-EU countries increased by 12 per cent in December. Imports from Germany, China and Sweden decreased, while imports from Russia, the Netherlands and the United States increased.
Table 1. Total development (e million)
|Exports (fob)||4 776||4 914||+3||59 711||63 843||+7|
|Imports (cif)||5 126||5 340||+4||62 469||66 470||+6|
|Balance||-350||-427||-2 758||-2 627|
Table 2. International trade indexes
|Unit value index|
|* Moving 12-months averages|
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