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Trade balance shows €134m deficit in March

03 Jun 2019, 02:40 ( 1 Month ago)

DF Report
File Photo Port of Helsinki by Veikko Somerpuro.

The balance of trade showed a deficit of 134 million euros in March, according to the international trade in goods statistics provided by Finnish Customs.

However, in January-March, the trade balance showed a surplus of 255 million euros.

In March 2018, the trade balance was 297 million euros in deficit and in January-March, the deficit was 892 million euros.

The value of Finnish exports of goods remained at the level of the previous year in March.

The value of Finnish exports was slightly over 5.4 billion euros. Export prices rose by 2.9 per cent, but export volume declined by 2.2 per cent. In January-March, the value of exports increased by six per cent year-on-year.

The value of imports declined by three per cent in March and was slightly under 5.6 billion euros.

 Import volume declined by 0.5 per cent and import prices by 0.2 per cent. In January-March, the value of imports fell by one per cent year-on-year.

Exports of machinery and equipment fell slightly in March. The decline in the value of oil refinery exports was also slow. The value of other chemical industry exports fell slightly faster. The value of paper and cardboard exports also fell, but pulp exports increased.

The decline in the value of metals exports was rather rapid. In March, exports of transport equipment and instruments and meters increased. The value of imports of industrial supplies, capital goods, fuel and lubricants and consumer goods declined, but the value of imports of transport equipment increased in March.

Both exports to EU member states and non-EU countries remained at the level of the previous year in March. Exports to Germany and the Netherlands fell while exports to China were at the previous year's level.

Exports to the United States, the United Kingdom, Sweden and Russia increased. Imports from EU countries fell by one per cent, and imports from non-EU countries by five per cent in March.

Imports from Germany, the Netherlands, Russia and the United States decreased, but imports from Sweden and China increased.