Monday January 17, 2022

Trade balance posts €123m surplus in Sep

Published : 01 Dec 2021, 03:20

  DF Report

Photo: Finnish Customs.

The trade balance showed a surplus of EUR 123 million in September 2021, according to the international trade in goods statistics provided by Finnish Customs on Tuesday.

In January-September 2021, the trade balance had an aggregated deficit of EUR 2.7 billion. The deficit was EUR 323 million smaller than in the corresponding period last year.

The value of Finnish exports of goods increased by 33.3 per cent year-on-year in September. The value of exports was EUR 6.6 billion. Export volume increased by 15.4 per cent and export prices by 16.4 per cent year-on-year.

The value of imports increased by 19.9 per cent in September to EUR 6.4 billion. Import prices increased by 17.8 per cent and import volume by 3.6 per cent compared to September 2020.

In January-September, the aggregated value of exports increased by 18.0 per cent and the value of imports by 16.1 per cent compared with the corresponding period last year.

The aggregate trade surplus by commodity group for forest industry products increased in January-September compared with the corresponding period in 2020. The trade surplus in industrial machinery and equipment decreased from a year ago, but the trade surplus in metals increased.

Trade deficit increased in the trade in ores and scrap metal and electrical machinery and equipment, but decreased in the trade in transport equipment in January-September compared to same period the previous year.

The terms of trade weakened in September compared to the corresponding month of 2020 as import prices increased more than export prices. The point figure in September was 96.2, while it was 97.4 in September 2020. The terms of trade weakened also from August 2021.

The value of exports of capital goods rose by 11.4 per cent in September and the value of exports of industrial supplies by 36.2 per cent year-on-year.

The value of exports of fuels and lubricants increased by 39.3 per cent. The value of exports of consumer goods rose by 12.8 per cent and the value of exports of food and beverages by 7.4 per cent. The value of exports of transport equipment and parts rose by 87.0 per cent.

The value of imports of industrial supplies increased by 33.0 per cent in September, and the value of imports of capital goods rose by 18.5 per cent year-on-year.

The value of imports of transport equipment and parts decreased by 9.6 per cent. The value of imports of fuels and lubricants rose by 68.8 per cent. The value of imports of food and beverages increased by 5.9 per cent, but the value of imports of consumer goods decreased by 1.2 per cent.

Exports to EU countries rose by 39.1 per cent and exports to non-EU countries by 25.7 per cent in September.

Imports from EU countries rose by 11.5 per cent and imports from non-EU countries by 32.9 per cent in September.

In January-September, exports to EU countries increased by 18.6 per cent and exports to non-EU countries by 17.3 per cent. During the same period, imports from EU countries increased by 15.6 per cent and from non-EU countries by 16.8 per cent.