Monthly statistics on the foreign trade of goods, October 2016
Finnish Customs, Statistics
Export volume decreased while export prices grew in October
The value of Finnish exports of goods decreased by five per cent year-on-year in October according to foreign trade statistics provided by Finnish Customs. The value of Finnish exports was 4.5 billion euros. Export prices increased by 3.3 per cent while export volume decreased by 5.2 per cent. In January-October exports diminished by five per cent.
The value of imports decreased by three per cent in October and was 4.7 billion euros. Import prices increased by 4.5 per cent while import volume decreased by 5.8 per cent. In January-October, the total import value remained at the level of the previous year.
The balance of trade showed a deficit of 192 million euros in October. In January-October, the balance of trade had a deficit of slightly over 2.1 billion euros. In October the previous year the trade deficit was 54 million euros, and in January-October the trade balance showed a deficit of 111 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 October because import prices grew more than export prices. The point figure in October was 100.2, while it was 101.3 October the previous year. The terms of trade weakened from the previous month's point figure of 102.9.
Exports of petroleum products and forest industry products improved compared to the previous year's October, while exports of machinery and equipment, transport equipment, chemical industry products and metals declined. Imports of electrical machinery and equipment, petroleum products and metals increased, while imports of industrial machinery, transport equipment, chemical industry products and food items fell.
Exports to EU member states decreased by 12 per cent in October while exports to non-EU countries increased by five per cent. The most important export countries to rise in October were the Netherlands, the United States, China and Russia. Exports to Germany, Sweden and the United Kingdom decreased. Imports from EU-countries decreased by six per cent while imports from non-EU countries rose by two per cent in October. Imports from Germany, the United States, the United Kingdom and France decreased, while imports from the Netherlands and China increased.
Table 1. Total development (e million)
|Exports (fob)||4 767||4 505||-5||44 924||42 731||-5|
|Imports (cif)||4 821||4 698||-3||45 035||44 863||-0|
Table 2. Foreign trade indexes
|Unit value index|
|* Moving 12-months averages|
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