Preliminary statistics on the international trade in goods, February 2024

8.4.2024 9.00

Preliminary statistics, February 2024

Finnish Customs, Statistics

Export prices decreased by 4.6 per cent, export volume increased by 12.1 per cent in February according to preliminary data

According to the preliminary statistics of international trade in goods provided by Finnish Customs, the value of Finnish exports increased by 5.8 per cent in February year-on-year. The value of Finnish exports in February was EUR 5.3 billion. Export volume increased by 12.1 per cent, but export prices declined by 4.6 per cent year-on-year.

The value of imports increased by 6.5 per cent in February and the value of imports was EUR 6.0 billion. Import prices declined by 5.7 per cent, but import volume increased by 12.3 per cent compared to February 2023. During the reference month in 2023 a harbour strike reduced international trade in goods considerable. Compared to previous month, January 2024, the value of exports decreased by 7.8 per cent, but the value of imports increased by 2.3 per cent in February 2024.

In January-February 2023, the total value of exports decreased by 2.3 per cent and the value of imports by 3.1 per cent year-on-year. Change of export volume during the latest 12 months was -0.7 per cent (12 month moving average March 2023 – February 2024). The corresponding figure for import volume was -8.4 per cent.

The trade balance was in deficit of EUR 720 million in February. In January-February, the aggregated deficit amounted to EUR 855 million. In February 2023, the trade balance was EUR 640 million in deficit and in January-February of the same year, the aggregated deficit was EUR 980 million.

Figure 1. Monthly values of exports, imports and trade balance 2022-2024

Volume of both internal and external exports increased

Value of exports to EU member states increased by 5.0 per cent and to non-EU countries by 6.9 per cent in February compared to the same month the previous year. The volume of exports to EU countries increased by 13.2 per cent and to non-EU countries by 9.8 per cent during the same time.

Calculated from the beginning of the year, value of exports to EU countries decreased by 1.7 per cent and to non-EU countries by 3.2 per cent. The volume of exports to EU member states increased by 1.6 per cent, but the volume of exports to non-EU countries decreased by 3.7 per cent calculated according to 12-month moving average.

Figure 2. Change of export values by month compared with the same month of the previous year 2022-2024

Value of imports from EU countries increased by 0.9 per cent and from non-EU countries by 15.7 per cent in February. The volume of imports from EU member states increased by 5.2 per cent and from non-EU countries by 37.7 per cent.

Calculated from the beginning of the year, value of imports from EU member states decreased by 3.0 per cent and from other countries by 3.3 per cent. The volume of imports from EU member states decreased by 4.7 per cent, and the volume of imports from non-EU countries by 12.7 per cent calculated according to 12-month moving average.

Figure 3. Change of import values by month compared with the same month of the previous year 2022-2024

In this publication preliminary statistics under table 6 are listed export and import values and percentage change by country. The values in the table are preliminary and significant changes are possible when data becomes more complete.

The monthly preliminary statistics release contains preliminary overall figures about Finland's international trade in goods. More precise figures of exports and imports as well as detailed statistics about specific countries and goods will be published at the end of the month in the monthly statistical release.