Monthly statistics on the international trade in goods, February 2023

27.4.2023 9.00

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Finnish Customs, Statistics

Volume of both exports and imports decreased in February

The value of Finnish exports of goods decreased by 13.5 per cent year-on-year in February, according to the international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was EUR 5.0 billion. Export volume decreased by 18.6 per cent, but export prices increased by 7.4 per cent year-on-year. The value of imports decreased by 17.2 per cent in February to EUR 5.7 billion. Import prices increased by 3.7 per cent, but import volume decreased by 19.1 per cent compared to February 2022. In January-February, the total value of exports decreased by 2.5 percent and the value of imports by 10.4 percent compared to the corresponding period of the previous year. Change of export volume during the latest 12 months was -6.0 per cent (12 month moving average March 2022 – February 2023). The corresponding figure for import volume ‘was -2.1 per cent.

In February 2023, the trade balance showed a deficit of EUR 717 million. In January-February 2023, the trade balance had accumulated a deficit of 1.0 billion euros, which was 1.1 billion euros less than a year earlier. The aggregate trade surplus by commodity group for products of chemical forest industry and industrial machinery and equipment increased compared to the previous year. The trade surplus in metals and products of mechanical forest industry decreased. The deficit increased for food products and beverages, but decreased for ores and metal scrap, crude oil and refined petroleum products and electrical machinery and equipment.

The terms of trade improved in February compared to the corresponding month of 2022 as export prices rose more than import prices. The point figure in February was 97.9, while it was 94.4 in February 2022. The terms of trade weakened from January 2023.

Export value of consumer goods increased in February

The value of exports of capital goods decreased by 0.5 per cent in February, and the value of exports of industrial supplies by 26.3 per cent year-on-year. The value of exports of fuels and lubricants decreased by 1.6 percent. The value of exports of consumer goods increased by 53.1 percent, but the value of exports of food and beverages decreased by 10.6 percent. The value of exports of transport equipment and parts decreased by 27.1 per cent.

The value of imports of industrial supplies decreased by 26.8 per cent in February, but the value of imports of capital goods rose by 0.2 per cent year-on-year. The value of imports of transportation equipment and their parts decreased by 14.7 percent. The value of imports of fuels and lubricants decreased by 28.8 percent. The value of imports of food and beverages decreased by 3.3 percent and the value of imports of consumer goods by 12.0 percent.

Export value in external trade decreased more than in internal trade in February

The value of exports to EU countries fell by 10.9 percent and exports outside the EU by 17.2 percent in February. Imports from EU countries fell by 3.0 percent and imports from outside the EU by 33.1 percent in February. In January-February, total exports to EU countries fell by 1.9 percent and exports outside to the EU by 3.2 percent. In the same period, imports from EU countries decreased by 1.9 percent and from outside the EU by 20.1 percent.

* Moving 12-months averages

Note: New methods of estimation used in compilation of international trade in goods statistics were introduced from statistics January 2023. Read more in the bulletin.

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Further information:
Kaarna, Anssi tel. +358 40 332 8153
Telasuo, Christina tel. +358 40 332 1828
forename.surname[at]tulli.fi

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