Monthly statistics on the international trade in goods, May 2021

30.7.2021 9.00

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Finnish Customs, Statistics

Both export volume and export prices increased in May

The value of Finnish exports of goods increased by 28.6 per cent year-on-year in May, according to the international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was EUR 5.2 billion. Export volume increased by 17.1 per cent and export prices by 10.7 per cent year-on-year. The value of imports increased by 24.6 per cent in May to EUR 5.4 billion. Import prices increased by 12.5 per cent and import volumes by 12.4 per cent compared to May 2020. In January-May, the aggregated value of exports increased by 11.4 per cent and the value of imports by 10.5 per cent compared with the corresponding period last year. In May 2020, the value of exports decreased by 30.4 per cent and the value of imports by 25.1 per cent year-on-year.

In May 2021, the trade balance showed a deficit of EUR 239 million. In January-May 2021, the trade balance had a deficit of EUR 1.5 billion. The deficit was EUR 40 million smaller than in the corresponding period last year. The aggregate trade surplus by commodity group for forest industry products increased in January-May compared with the corresponding period in 2020. The trade surplus in industrial machinery and equipment decreased from a year ago, but the trade surplus in metals increased. Trade deficit increased in the trade in ores and scrap metal, transport equipment and electrical machinery and equipment, but decreased in the trade in foodstuffs in January-May compared to same period the previous year.

The terms of trade weakened in May compared to the corresponding month of 2020 as import prices increased more than export prices. The point figure in May was 97.9, while it was 99.5 in May 2020. The terms of trade improved slightly from April 2021.

The value of exports of capital goods increased by 26.2 per cent and the value of exports of industrial supplies by 32.6 per cent in May. The value of exports of fuels and lubricants decreased by 44.4 per cent. The value of exports of consumer goods increased by 34.6 per cent, but the value of exports of food and beverages decreased by 3.2 per cent. The value of exports of transport equipment and parts and accessories increased by 100.1 per cent.

The value of imports of food and beverages increased by 3.5 per cent, but the value of imports of consumer goods decreased by 1.8 per cent. The value of imports of industrial supplies rose by 27.4 per cent. The value of imports of capital goods increased by 19.3 per cent and the value of imports of transport equipment by 92.6 per cent. The value of imports of fuels and lubricants rose by 0.6 per cent in May compared with the corresponding month last year.

Exports to EU countries increased by 22.9 per cent and exports to non-EU countries by 35.9 per cent in May. Imports from EU countries increased by 27.5 per cent and imports from non-EU countries by 20.4 per cent in May. In January-May, exports to EU countries increased by 10.5 per cent and exports to non-EU countries by 12.6 per cent. During the same period imports from EU countries increased by 11.5 per cent and from non-EU countries by 9.1 per cent.

* Moving 12-months averages

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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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