Finland's trade deficit declined to EUR 440 million in July 2020 from EUR 498 million in the same month of the previous year, a preliminary estimate showed. Exports tumbled 13.8 percent partly due to lower sales of transport equipment, petroleum products, electrical machinery equipment, forest industry products. By contrast, sales of copper, zinc, nickel, gold, and pharmaceutical products rose. Among major trade partners, decreases were seen in exports to Germany, Russia, the US, and China. Meanwhile, imports fell 13.6 percent as purchases of petroleum products, transport equipment, machinery and equipment, chemical products and metal products were down. Imports dropped from Russia, Germany, and the Sweden, but jumped to the UK. Considering the first seven months of the year, the trade gap widened sharply to EUR 2.1 billion from EUR 507 million in the same period of 2019.
Balance of Trade in Finland averaged 200.51 EUR Million from 1975 until 2020, reaching an all time high of 1749 EUR Million in November of 2002 and a record low of -796 EUR Million in December of 2012. This page provides - Finland Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Finland Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Statistics Finland
Balance of Trade in Finland is expected to be -170.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Finland to stand at -330.00 in 12 months time. In the long-term, the Finland Balance of Trade is projected to trend around -380.00 EUR Million in 2021, according to our econometric models.