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Trade balance posts €280m deficit in May

Published : 10 Jul 2020, 02:40

Updated : 10 Jul 2020, 10:39

  DF Report

File Photo Finnish Customs.

The balance of trade of the country in May was EUR 280 million in deficit, according to the preliminary statistics of international trade provided by the Finnish Customs.

In the January-May period, the trade balance ran a deficit of almost EUR 1.5 billion, said a Customs press release.

In May last year, the trade balance was EUR 15 million in deficit and in January-May the deficit was EUR 65 million.

The value of Finnish exports in May decreased by 30.9 per cent, while the value of imports declined by 26.3 per cent year on year.

The value of Finnish exports in May was EUR 4.0 billion and the value of imports was EUR 4.3 billion.

In the January-May period, the total value of exports decreased by 17.9 per cent and the value of imports by 12.7 per cent year on year.

Exports to EU member states decreased by 31.7 per cent and exports to non-EU countries by 30.0 per cent in May.

Imports from EU-countries diminished by 26.4 per cent and imports from non-EU countries fell by 26.2 per cent in May.

Calculated from the beginning of the year, exports to the EU decreased by 18.3 per cent and to non-EU countries by 17.4 per cent. During the same period, imports from EU member states fell by 11.7 per cent and from other countries by 14.2 per cent.