Monthly statistics on the international trade in goods, October 2017
Finnish Customs, Statistics
Both export volume and export prices rose in October
The value of Finnish exports of goods increased by 17 per cent in October year-on-year according to international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was 5.3 billion euros. Export prices increased by 5.8 per cent and export volume by 11.4 per cent. In January-October exports increased by 16 per cent.
The value of imports increased by 14 per cent in October and was slightly over 5.4 billion euros. Import prices increased by 3.8 per cent and import volume increased by 11.7 per cent. In January-October the total import value increased by 14 per cent compared to the previous year.
The balance of trade showed a deficit of 133 million euros in October. In January-October the balance of trade had a deficit of over 1.8 billion euros. In October the previous year the trade deficit was 256 million euros, and in January-October the trade balance showed a deficit of over 2.3 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 October because export prices grew more than import prices. The point figure in October was 102.1, while it was 100.2 October the previous year. The terms of trade improved from the September 2017 point figure of 99.4.
Growth in export value was recorded to almost all main goods groups in October. Exports of machinery and equipment grew rapidly. The strong growth in transport equipment exports was mainly due to the rise in passenger car exports. Two ship deliveries were also recorded for October. Growth in paper and cardboard exports was weak, but exports of other forest products grew rapidly. Exports of metals, ores, furskins and foodstuffs also increased. The value of exports of chemicals and petroleum products declined from October last year. Imports of consumer goods declined, but imports of other main groups rose in October.
Exports to EU member states increased by 22 per cent and exports to non-EU countries by ten per cent in October. The most important export countries to rise in October were Russia, Germany, Sweden, China, the United Kingdom and France. Exports to the Netherlands and the United States decreased. Imports from EU-countries increased by 17 per cent and imports from non-EU countries by nine per cent in October. Imports from the United States decreased, while imports from other major trading partners increased.
Table 1. Total development (e million)
|Exports (fob)||4 533||5 311||+17||42 810||49 540||+16|
|Imports (cif)||4 789||5 445||+14||45 141||51 371||+14|
|Balance||-256||-133||-2 331||-1 830|
Table 2. International trade indexes
|Unit value index|
|* Moving 12-months averages|
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