Monthly statistics on the international trade in goods, March 2023

29.5.2023 9.00

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Finnish Customs, Statistics

Volume of exports increased, volume of imports decreased in March

The value of Finnish exports of goods increased by 10.1 per cent year-on-year in March, according to the international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was EUR 7.7 billion. Export volume increased by 8.7 per cent, and export prices rose by 2.5 per cent year-on-year. The value of imports decreased by 10.2 per cent in March to EUR 7.6 billion. Import prices declined by 2.4 per cent, and import volume decreased by 6.2 per cent compared to March 2022. In January-March, the total value of exports increased by 2.4 percent, but the value of imports decreased by 10.6 percent compared to the corresponding period of the previous year. Change of export volume during the latest 12 months was -4.8 per cent (12 month moving average April 2022 – March 2023). The corresponding figure for import volume ‘was -3.3 per cent.

In March 2023, the trade balance showed a surplus of EUR 69 million. In January-March 2023, the trade balance had accumulated a deficit 902 million euros, which was 2.8 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 March compared to the corresponding month of 2022 as export prices rose and import prices declined. The point figure in March was 100.1, while it was 95.2 in March 2022. The terms of trade improved also from February 2023.

Export value of consumer goods increased in March

The value of exports of capital goods increased by 30.8 per cent in March, and the value of exports of industrial supplies by 0.8 per cent year-on-year. The value of exports of fuels and lubricants increased by 19.8 percent. The value of exports of consumer goods increased by 12.7 percent, and the value of exports of food and beverages by 4.7 percent. The value of exports of transport equipment and parts decreased by 19.6 per cent.

The value of imports of industrial supplies decreased by 13.9 per cent in March, and the value of imports of capital goods by 2.6 per cent year-on-year. The value of imports of transportation equipment and their parts increased by 13.5 percent. The value of imports of fuels and lubricants decreased by 38.3 percent. The value of imports of food and beverages increased by 8.2 percent, but the value of imports of consumer goods decreased by 0.1 percent.

Export value in internal trade increased more than in external trade in March

The value of exports to EU countries increased by 11.4 percent and exports outside the EU by 8.3 percent in March. Imports from EU countries fell by 1.7 percent and imports from outside the EU by 20.7 percent in March. In January-March, total exports to EU countries rose by 3.4 percent and exports outside to the EU by 1.0 percent. In the same period, imports from EU countries decreased by 2.1 percent and from outside the EU by 20.6 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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