Monthly statistics on the foreign trade of goods, March 2016
Finnish Customs, Statistics
Both export volume and export prices fell in March
The value of Finnish exports decreased by ten per cent in March according to foreign trade statistics provided by Finnish Customs. The value of Finnish exports was 4.4 billion euros. Export prices decreased by 2.4 per cent and export volume by 6.6 per cent. In January-March exports diminished by seven per cent.
The value of imports decreased by eight per cent in March and was almost 4.7 billion euros. Import prices decreased by 2.1 per cent and import volume by 3.1 per cent. In January-March, the total import value decreased by seven per cent compared to the previous year.
The balance of trade showed a deficit of 278 million euros in March. In January-March, the balance of trade had a deficit of 819 million euros. In March the previous year the trade deficit was 196 million euros, and in January-March the trade balance showed a deficit of 777 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 March because export prices fell more than import prices. The point figure in March was 102.5, while it was 102.8 March the previous year. The terms of trade weakened from the previous month's point figure of 103.4.
Exports of all main sectors of industry declined in March. Only the exports of forest industry products remained at the level of the previous year. Imports of electrical machinery and equipment and transport equipment increased, while imports of other main sectors diminished.
Exports to EU member states decreased by eight per cent in March and exports to non-EU countries by 13 per cent. Exports to all major trading partners decreased. Imports from EU-countries decreased by seven per cent and imports from non-EU countries fell by ten per cent in March. Imports from United States and France increased, while imports from other major trading partners declined.
Table 1. Total development (e million)
|Exports (fob)||4 872||4 392||-10||12 995||12 046||-7|
|Imports (cif)||5 068||4 670||-8||13 772||12 865||-7|
Table 2. Foreign trade indexes
|Unit value index|
|* Moving 12-months averages|
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