Finland's trade deficit widened to EUR 115 million in November 2019 from EUR 14 million in the same month the prior year, a preliminary estimate showed. Exports slumped 12.1 percent, due to sales of metals and articles of base metals, paper pulp, machinery and equipment, and paper and cardboard. Among major trade partners, exports to the EU plunged 13.8 percent, mostly to the UK, and exports to countries outside the EU dropped 9.6 percent, in particular to China. Meanwhile, imports fell 10.4 percent, with almost all commodity groups posting sharp declines. Purchases from the EU were down 9.5 percent, mainly from the Netherlands, while those from third countries tumbled 11.7 percent. Considering the first eleven months of the year, the trade deficit narrowed to EUR 1.0 billion from EUR 2.5 billion in the same period of 2018.

Balance of Trade in Finland averaged 207.02 EUR Million from 1975 until 2019, 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. source: Statistics Finland

Balance of Trade in Finland is expected to be -270.00 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 2020, according to our econometric models.


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Finland Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-115.00 -20.00 1749.00 -796.00 1975 - 2019 EUR Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-10-09 06:00 AM Aug €-0.24B €-0.45B €-0.27B
2019-11-07 07:00 AM Sep €-0.21B €-0.22B €-0.01B
2019-12-10 07:00 AM Oct €0.05B €-0.19B €-0.19B
2020-01-09 07:00 AM Nov €-0.12B €-0.02B
2020-02-10 07:00 AM Dec €-0.12B € -0.32B


News Stream
2019-12-10
Finland Posts First Trade Surplus in 4 Months
Finland's trade balance shifted to a surplus of EUR 5 million in October 2019 from a sedifit of EUR 242 million in the same month the prior year, a preliminary estimate showed. This was the first trade surplus since June, as eports fell 2.2 percent year-on-year to EUR 5.685 billion, as sales fell to both the EU countries (-3.3 percent) and countries outside the EU (-0.8 percent). Meanwhile, imports fell at a faster 6.2 percent to EUR 5.68 billion. Purchases dropped from both the EU countries (-7.8 percent) and countries outside the EU (-3.5 percent). Considering the first ten months of the year, the country posted a trade gap of EUR 840 million, narrowing from a deficit of 2.4 billion in in the corresponding period the prior year. Exports in the period rose 2.2 percent from the same period of the previous year, while imports shrank 0.9 percent.

2019-11-07
Finnish Trade Gap Widens in September
Finland's trade deficit widened to EUR 210 million in September 2019 from EUR 138 million in the same month last year, a preliminary estimate showed. Exports rose 1.3 percent, mainly boosted by sales of industrial machinery and equipment and refined petroleum products. Among key trade partners, exports rose to the US, Russia, the UK, Germany and Sweden, but fell to China and the Netherlands. Meanwhile, imports increased at a faster 2.6 percent, with purchases of major commodity groups growing firmly. Imports from Germany, the US, China and Sweden were up, while those from Russia and the Netherlands declined. Considering January-September, the trade gap narrowed to EUR 770 million from EUR 2.2 billion in the corresponding period the prior year.

2019-10-09
Finnish Trade Gap Narrows Sharply in August
Finland's trade deficit narrowed to EUR 240 million in August 2019 from EUR 523 million in the same month last year. Exports fell 1.6 percent, led by lower sales of petroleum and forest products, machinery and equipment, chemical products and metals. Among major trade partners, exports fell to the US, the Netherlands and the UK, but increased to Germany, Sweden and Russia. Meanwhile, imports slumped 6.5 percent, as purchases were down for almost all major commodity groups, except transport equipment and medicines. Imports dropped from Russia, the Netherlands and the UK, but rose from the US, Germany, China and Sweden. Considering January-August, the trade gap narrowed to EUR 580 million from EUR 2.1 billion in the corresponding period the prior year.

2019-09-06
Finnish Trade Gap Widens in July
Finnish trade deficit widened to EUR 435 million in July 2019 from EUR 384 in the same month a year earlier, a preliminary data showed. Year-on-year, imports advanced 1.5 percent to EUR 5.47 billion in July, amid higher purchases of machinery and equipment, ores and concentrates. In contrast, imports fell for crude oil, petroleum products, and metals. Imports rose from both EU-countries rose (2.2. percent) and outside EU (0.6 percent). Meanwhile, exports grew at a softer 0.6 percent to EUR 5.04 billion. Sales went up for machinery and equipment, chemical products, transport vehicles, and forest industry. On the other hand, exports declined for petroleum products and machinery, electrical and metal equipment. Overseas sales rose to Germany, Russia, and the US, but fell from EU countries (-3.5 percent). Considering the first seven months 2019, the trade gap narrowed to EUR 290 million from EUR 1.6 billion in the corresponding period the prior year.

2019-08-08
Finnish Trade Balance Swings to Surplus in June
Finland posted a trade surplus of EUR 195 million in June 2019, shifting from a EUR 175 million gap in the same month the prior year, preliminary data showed. Exports fell 3 percent year-on-year to EUR 5.245 billion, as sales decreased for transport vehicles; forest industry products, machinery and equipment, and chemical products. Exports declined to Germany, Sweden, Netherlands, and the UK. On the other hand, shipments rose for the US, China, and Russia. Sales to the EU went down 7 percent while those to outside EU fell 3 percent. Imports dropped at a faster 10 percent to EUR 5.050 billion. Purchases from the EU plunged 14 percent, and those from outside EU dropped 3 percent. Considering the first half of the year, the trade balance recorded a surplus of EUR 130 million, compared with a deficit of EUR 1.2 billion in the same period of 2018.

2019-07-08
Finland Trade Gap Narrows Sharply in May
Finland's trade deficit narrowed sharply to EUR 10 million in May 2019 from a EUR 250 million gap in the same month the prior year, preliminary data showed. Exports rose 6 percent year-on-year to EUR 5.715 billion, as sales increased for refined petroleum products and basic metals and instruments and meters. In contrast, exports fell for electrotechnical machinery and equipment. Exports advanced to most major trading partners, particularly the US and Russia. On the other hand, shipments fell for the UK and China. Sales to the EU went up 5% while those to outside EU grew 9%. Imports increased at a softer 2 percent to EUR 5.725 billion. Purchases from the EU advanced 4 percent, and those from outside EU declined 1 percent. Considering the first four months of the year, the trade balance posted a deficit of EUR 90 million, compared with a deficit of EUR 1 billion in the same period of 2018.


Finland Balance of Trade
International trade makes a third of Finland’s GDP. Finnish principal exports are: telecommunications equipment, passenger cars and forestry products and paper and paperboard. Finnish principal imports are food stuffs, petroleum and petroleum products, chemicals, transport equipment, iron and steel, machinery, textile yarn and fabrics and grains. European Union makes 55 percent of the total trade. The largest trade flows are with Germany, Russia, Sweden, China and U.S.

Finland Trade Last Previous Highest Lowest Unit
Balance of Trade -115.00 -20.00 1749.00 -796.00 EUR Million [+]
Current Account 227.00 966.00 2117.00 -4778.00 EUR Million [+]
Current Account to GDP -1.90 -0.70 8.20 -5.40 percent [+]
Imports 5190.00 5725.00 6054.00 311.30 EUR Million [+]
Exports 5075.00 5705.00 6451.00 190.90 EUR Million [+]
External Debt 579944.00 552639.00 579944.00 203416.00 EUR Million [+]
Terms of Trade 97.20 98.20 145.60 93.20 points [+]
Capital Flows -26.00 2357.00 7922.00 -10347.00 EUR Million [+]
Foreign Direct Investment 62448.00 75031.00 76643.00 5356.00 EUR Million [+]
Gold Reserves 49.14 49.14 49.14 49.05 Tonnes [+]
Terrorism Index 2.03 2.50 2.50 0.00 [+]
Tourist Arrivals 207777.00 208831.00 423155.00 72455.00 Units [+]
Weapons Sales 68.00 58.00 137.00 1.00 USD Million [+]