Monthly statistics on the foreign trade of goods, November 2016
Finnish Customs, Statistics
Export prices grew in November
The value of Finnish exports of goods increased by four per cent in November year-on-year according to foreign trade statistics provided by Finnish Customs. The value of Finnish exports was 4.5 billion euros. Export prices increased by 4.8 per cent and export volume remained at the level of the previous year. In January-November exports diminished by four per cent.
The value of imports increased by three per cent in November and was slightly over 4.7 billion euros. Import prices increased by 5.7 per cent while import volume decreased by 1.5 per cent. In January-November, the total import value remained at the level of the previous year.
The balance of trade showed a deficit of 213 million euros in November. In January-November, the balance of trade had a deficit of almost 2.4 billion euros. In November the previous year the trade deficit was 240 million euros and in January-November the trade balance showed a deficit of 351 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 November because import prices grew more than export prices. The point figure in November was 99.7, while it was 100.6 November the previous year. The terms of trade weakened from the previous month's point figure of 100.2.
Exports of electrical machinery and equipment, petroleum products, forest industry products and metals improved compared to the previous year's November, while exports of industrial machinery, transport equipment and chemical industry products declined. Imports of machinery and equipment, crude oil, food items and metals increased, while imports of transport equipment and chemical industry products declined.
Exports to EU member states increased by one per cent and exports to non-EU countries by nine per cent in November. The most important export countries to rise in November were Russia, Sweden, the Netherlands, the United States, China and France. Exports to Germany and the United Kingdom decreased. Imports from EU-countries decreased by two per cent while imports from non-EU countries increased by 13 per cent in November. Imports from Sweden, the Netherlands, the United Kingdom and France decreased, while imports from Russia, Germany, the United States and China increased.
Table 1. Total development (e million)
|Exports (fob)||4 340||4 516||+4||49 264||47 284||-4|
|Imports (cif)||4 580||4 729||+3||49 615||49 644||+0|
Table 2. Foreign trade indexes
|Unit value index|
|* Moving 12-months averages|
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