Finland Trade Balance Swings To Deficit In January

Finland’s merchandise trade balance swung to deficit in January, finial figures from the Finnish Customs showed on Tuesday.

The trade balance registered a deficit of EUR 300 million in January versus a surplus of EUR 516 million last year. According to the initial estimate, trade deficit was EUR 365 million.

Exports declined 17.3 percent year-on-year in January. In the initial estimate exports fell 18.3 percent.

Imports fell 3.7 percent annually in January, as initially estimated.

Exports to the EU countries decreased 21.0 percent and imports fell 4.7 percent. In the initial estimate exports declined 21.4 percent and imports decreased 4.5 percent.

Shipments to countries outside the EU decreased 11.2 percent, while imports dropped 2.2 percent. According to the initial estimate, exports fell 13.2 percent and imports rose 2.5 percent.

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