Imports and exports

Updated: 8 Jul 2019
Next update: 8 Aug 2019
Description of indicator

Foreign Trade Statistics describes the commodity trade between Finland and other Member States of the European Union (EU) and between Finland and Third Countries i.e. the internal and external trade. Foreign Trade Statistics is the official information source on the importation, exportation, and balance of trade of Finland. Preliminary statistics on foreign trade of goods convey the first monthly data on the foreign trade of Finland. The preliminary statistics present the development of Finland's export, import, and balance of trade both in the aggregate and by the other EU Member States, Euro territory, and countries not in the EU.

The information on the trade carried on by Finland with the other EU Member States is collected from the compulsory statistical declarations provided monthly by importers and exporters through the Intrastat system of internal trade. The information on the trade between Finland and Third Countries is obtained from customs declarations, which have to be submitted on every import and export consignment. The data on both internal and external trade are put together to form the statistics on the foreign trade of Finland.

As a rule, all goods exported from and imported in Finland are recorded to statistics. The prerequisite for the inclusion in statistics is that the goods physically arrive in or depart from this country. By way of exception, water- and aircraft are recorded to statistics upon a change in the status of ownership. Among other things, neither transit transports nor economic measures of insignificant commercial value are included in the statistics. Also the smallest companies are released from the obligation to declare statistics on internal trade. Neither is foreign trade in services recorded to these statistics.

   

Value of exports increased by six per cent in May

According to the preliminary statistics of international trade in goods provided by Finnish Customs, the value of Finnish exports increased by six per cent and the value of imports by two per cent in May year-on-year. Both the value of Finnish exports and imports in May was 5.7 billion euros. In January-May, exports increased by five per cent and imports by one per cent year-on-year.

The trade balance showed a deficit of 10 million euros in May. Calculated from January to May, there was a deficit of 90 million euros. Under the same period last year, the balance of trade showed a deficit of slightly over billion euros. Last year the trade balance for May showed a deficit of 250 million euros.

Exports to EU member states increased by five per cent and exports to non-EU countries by nine per cent in May. Imports from EU-countries increased by four per cent while imports from non-EU countries fell by one per cent in May. Calculated from the beginning of the year, exports to EU increased by three per cent and to non-EU countries by six per cent. During the same period, imports from EU member states rose by three per cent but decreased from other countries by two per cent.