Monthly statistics on the international trade in goods, September 2023

29.11.2023 9.00

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Finnish Customs, Statistics

Both volume of exports and volume of imports decreased in September

The value of Finnish exports of goods decreased by 12.3 per cent year-on-year in September, according to the international trade in goods statistics provided by Finnish Customs. The value of Finnish exports was EUR 6.3 billion. Export volume decreased by 4.6 per cent, and export prices declined by 7.0 per cent year-on-year. The value of imports decreased by 20.8 per cent in September to EUR 6.0 billion. Import prices declined by 11.5 per cent, and import volume decreased by 9.9 per cent compared to September 2022. In January-September, the total value of exports decreased by 6.7 percent and the value of imports by 17.6 percent compared to the corresponding period of the previous year. Change of export volume during the latest 12 months was -4.0 per cent (12 month moving average October 2022 – September 2023). The corresponding figure for import volume was -9.8 per cent.

In September 2023, the trade balance showed a surplus of EUR 354 million. In January-September 2023, the trade balance had accumulated a deficit of 1.2 billion euros, which was 8.2 billion euros less than a year earlier. The aggregate trade surplus by commodity group for products of industrial machinery and equipment and metals increased compared to the previous year. The trade surplus in products of both mechanical and chemical forest industry decreased. The deficit increased for transport equipment, but decreased for ores and metal scrap, crude oil and refined petroleum products and electrical machinery and equipment.

The terms of trade improved in September compared to the corresponding month of 2022 as import prices declined more rapidly than export prices. The point figure in September was 101.1, while it was 96.2 in September 2022. The terms of trade did not change from August 2023.

Export value of capital goods decreased in September

The value of exports of capital goods decreased by 2.7 per cent in September, and the value of exports of industrial supplies decreased by 19.3 per cent year-on-year. The value of exports of fuels and lubricants decreased by 6.4 percent. The value of exports of consumer goods declined by 10.5 percent. The value of exports of food and beverages decreased by 13.7 percent and the value of exports of transport equipment and parts decreased by 13.2 per cent.

The value of imports of industrial supplies decreased by 22.4 per cent in September and the value of imports of capital goods by 25.8 per cent year-on-year. The value of imports of transportation equipment and their parts decreased by 9.4 percent. The value of imports of fuels and lubricants decreased by 26.1 percent. The value of imports of food and beverages decreased by 3.5 percent and of consumer goods by 19.4 percent.

Both internal and external trade fell in September

The value of exports to EU countries decreased by 10.3 percent and exports outside the EU by 14.7 percent in September. Imports from EU countries fell by 18.1 percent and imports from outside the EU by 24.4 percent in September. In January-September, total exports to EU countries decreased by 6.0 percent and exports to outside the EU by 7.7 percent. In the same period, imports from EU countries decreased by 12.6 percent and from outside the EU by 23.7 percent.

* 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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