Imports and exports

Updated: 9 Jan 2020
Next update: 10 Feb 2020
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.

   

The value of exports declined by 12.1 per cent in November

According to the preliminary statistics of international trade in goods provided by Finnish Customs, the value of Finland’s exports of goods was nearly EUR 5.1 billion in November. The value of exports was 12.1 per cent lower than in November 2018. Imports fell by 10.4 per cent in November and the value was just under EUR 5.2 billion. In January-November, the total value of exports increased by 0.9 per cent, while the value of total imports decreased by 1.6 per cent from last year.

In November, the trade balance was in deficit EUR 115 million. In January-November, the trade balance had a deficit of EUR 1.0 billion. In November 2018, the trade balance showed a deficit of EUR 13 million and a deficit of almost EUR 2.5 billion in January-November.

In November, exports to the EU countries decreased by 13.8 per cent and imports from the EU countries fell by 9.5 per cent. At the same time, exports to countries outside the EU fell by 9.6 per cent and imports from countries outside the EU by 11.7 per cent. In January-November, exports to EU countries fell by 0.4 per cent, but exports to non-EU countries increased by 2.7 per cent. Over the same period, imports from EU countries increased by 0.1 per cent, but imports from outside the EU fell by 4.1 per cent.