Imports and exports

Updated: 7 Sep 2021
Next update: 8 Oct 2021
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 22.5 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 22.5 per cent, and the value of imports by 20.3 per cent in July year-on-year. The value of Finnish exports in July was EUR 5.4 billion and the value of imports EUR 5.9 billion. During the reference month in 2020 exports decreased by 12.4 per cent and imports by 11.9 per cent.

In January-July 2021, the total value of exports increased by 15.2 per cent and the value of imports by 13.9 per cent year-on-year.

The trade balance was EUR 460 million in deficit in July. In January-July, the aggregated trade balance ran a deficit of EUR 2.2 billion. In July 2020, the trade balance was EUR 467 million in deficit, and in January-July it was EUR 2.3 billion in deficit.

Exports to EU member states increased by 20.5 per cent and exports to non-EU countries by 24.9 per cent in July. Imports from EU countries increased by 19.8 per cent and imports from non-EU countries by 20.9 per cent. Calculated from the beginning of the year, exports to EU countries rose by 14.2 per cent and to non-EU countries by 16.5 per cent. During the same period, imports from EU member states rose by 15.0 per cent and from other countries by 12.4 per cent.