Trade balance posts €1.2b deficit in May

The trade balance was in deficit of EUR almost 1.2 billion in May, according to the preliminary statistics of international trade in goods published by Finnish Customs on Wednesday.

In January-May, the aggregated deficit amounted to EUR 5.6 billion.

In May 2021, the trade balance was EUR 225 million in deficit and in January-May of the same year, the aggregated deficit was EUR 1.6 billion.

According to the statistics, the value of Finnish exports increased by 30.7 per cent, and the value of imports by 46.7 per cent in May year-on-year.

The value of Finnish exports in May was EUR 6.9 billion and the value of imports EUR 8.1 billion. During the reference month in 2021 exports increased by 31.1 per cent and imports by 26.5 per cent.

In January-May 2021, the total value of exports increased by 24.4 per cent and the value of imports by 37.5 per cent year-on-year.

Exports to EU member states increased by 39.6 per cent, and exports to non-EU countries by 20.6 per cent in May.

Imports from EU countries increased by 28.6 per cent and imports from non-EU countries by 75.1 per cent.

Calculated from the beginning of the year, exports to EU countries rose by 31.6 per cent and to non-EU countries by 15.6 per cent.

During the same period, imports from EU member states rose by 24.7 per cent and from other countries by 56.7 per cent.