Trade balance records a surplus of 125 million euros in May

According to preliminary statistics on international trade in goods published by Finnish Customs on Friday, the trade balance showed a surplus of 125 million euros in May.

In the period January to May, the total deficit amounted to 2.0 billion euros.

In May 2023, the trade balance showed a deficit of 190 million euros, and in the period January to May of the same year the total deficit was 875 million euros.

According to statistics, the value of Finnish exports fell by 5.7 percent year-on-year in May. The value of Finnish exports in May was 6.2 billion euros. Export volume fell by 4.1 percent year-on-year and export prices fell by 0.7 percent.

The value of imports fell by 10.2 percent in May and amounted to 6.1 billion euros.

Import prices rose by 1.6 percent, but import volumes fell by 9.8 percent compared to May 2023.

In the period January to May 2024, the total value of exports fell by 11.5 percent compared to the previous year and the value of imports by 7.7 percent. The change in export volume over the last 12 months was minus 5.3 percent (12-month average June 2023 – May 2024). The corresponding value for import volume was minus 8.6 percent.

The value of exports to EU member states fell by 6.0 percent in May compared to the same month last year and to non-EU countries by 5.4 percent.

During the same period, export volumes to EU countries fell by 3.5 percent and to non-EU countries by 5.1 percent.

Compared to the beginning of the year, the value of exports to EU countries fell by 11.8 percent and to non-EU countries by 11.1 percent.

The volume of exports to EU member states fell by 4.2 percent, while the volume of exports to non-EU countries fell by 7.1 percent (calculated based on the 12-month moving average).

The value of imports from EU countries fell by 5.6 percent in May and from non-EU countries by 16.7 percent. The import volume from EU member states fell by 3.6 percent and from non-EU countries by 16.9 percent.

Compared to the beginning of the year, the value of imports from EU member states fell by 7.0 percent and from other countries by 8.8 percent.

The import volume from EU member states decreased by 6.3 percent, while the import volume from non-EU countries decreased by 10.7 percent (calculated based on the 12-month moving average).