Imports and exports

Updated: 7 Sep 2018
Next update: 9 Oct 2018
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.

   

EXPORTS INCREASED BY FIVE PER CENT IN JULY

According to the preliminary statistics of international trade in goods provided by Finnish Customs, the value of Finnish exports increased by five per cent and the value of imports increased by seven per cent in July compared with the year before. The value of Finnish exports in July was almost five billion euros and the value of imports was 5.4 billion euros. Calculated from the beginning of the year, exports have increased by seven per cent and imports have increased by six per cent.

The trade balance showed a deficit of 450 million euros in July. Calculated from January to July there was a deficit of almost 1.2 billion euros. Under the same period last year the balance of trade showed a deficit of over 1.4 billion euros. Last year the trade balance for July showed a deficit of 333 million euros.

Exports to EU member states increased by two per cent in July and exports to non-EU countries increased by eight per cent. Imports from EU-countries increased by six per cent and imports from non-EU countries rose by eight per cent in July. Calculated from the beginning of the year, exports to EU increased by six per cent and to non-EU countries by seven. During the same period imports from EU member states rose by five per cent and increased from other countries by six per cent.