Monthly statistics on the foreign trade of goods, May 2016
Finnish Customs, Statistics
Both export volume and export prices continued to fall in May
The value of Finnish exports decreased by six per cent in May according to foreign trade statistics provided by Finnish Customs. The value of Finnish exports was 4.3 billion euros. Export prices decreased by 4.8 per cent and export volume by 0.7 per cent. In January-May exports diminished by eight per cent.
The value of imports increased by five per cent in May and was slightly over 4.4 billion euros. Import prices decreased by 6.2 per cent while import volume increased by 14.5 per cent. In January-May, the total import value decreased by two per cent compared to the previous year.
The balance of trade showed a deficit of 125 million euros in May. In January-May the balance of trade had a deficit of 1.3 billion euros. In May the previous year, the trade surplus was 391 million euros, and in January-May the trade balance showed a surplus of 82 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 improved in May because import prices fell more than export prices. The point figure in May was 101.2, while it was 99.7 May the previous year. The terms of trade also improved from the previous month's point figure of 100.6.
Exports of petroleum products, chemical industry products and forest industry products improved compared to the previous year's May, while exports of machinery and equipment, transport equipment and metals decreased. Imports of food items and metals decreased, while imports of other important product groups increased.
Exports to EU member states decreased by nine per cent in May and exports to non-EU countries by three per cent. The most important export countries to rise in May were Sweden, China, the United Kingdom and France. Exports to Germany, the Netherlands, Russia and the United States decreased. Imports from EU-countries increased by two per cent and imports from non-EU countries by ten per cent in May. Imports from the Netherlands and the United States decreased, while imports from Russia, Germany, China, the United Kingdom and France increased.
Table 1. Total development (e million)
|Exports (fob)||4 617||4 317||-6||22 415||20 686||-8|
|Imports (cif)||4 226||4 442||+5||22 333||21 985||-2|
Table 2. Foreign trade indexes
|Unit value index|
|* Moving 12-months averages|
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