Preliminary statistics on the international trade in goods, May 2024

5.7.2024 9.00

Preliminary statistics, May 2024

Finnish Customs, Statistics

Export volume decreased by 4.1 per cent in May according to preliminary data

According to the preliminary statistics of international trade in goods provided by Finnish Customs, the value of Finnish exports decreased by 5.7 per cent in May year-on-year. The value of Finnish exports in May was EUR 6.2 billion. Export volume declined by 4.1 per cent and export prices by 0.7 per cent year-on-year.

The value of imports decreased by 10.2 per cent in May and the value of imports was EUR 6.1 billion. Import prices increased by 1.6 per cent, but import volume declined by 9.8 per cent compared to May 2023.

In January-May 2024, the total value of exports decreased by 11.5 per cent and the value of imports by 7.7 per cent year-on-year. Change of export volume during the latest 12 months was -5.3 per cent (12 month moving average June 2023 – May 2024). The corresponding figure for import volume was -8.6 per cent.

The trade balance was in surplus of EUR 125 million in May. In January-May, the aggregated deficit amounted to EUR 2.0 billion. In May 2023, the trade balance was EUR 190 million in deficit and in January-May of the same year, the aggregated deficit was EUR 875 million.

Figure 1. Monthly values of exports, imports and trade balance 2022-2024. The content is explained in the text.

Volume of both internal and external exports decreased in May

Value of exports to EU member states decreased by 6.0 per cent and to non-EU countries by 5.4 per cent in May compared to the same month the previous year. The volume of exports to EU countries decreased by 3.5 per cent and to non-EU countries by 5.1 per cent during the same time.

Calculated from the beginning of the year, value of exports to EU countries decreased by 11.8 per cent and to non-EU countries by 11.1 per cent. The volume of exports to EU member states decreased by 4.2 per cent, and the volume of exports to non-EU countries decreased by 7.1 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. The content is explained in the text.

Value of imports from EU countries decreased by 5.6 per cent and from non-EU countries by 16.7 per cent in May. The volume of imports from EU member states decreased by 3.6 per cent and from non-EU countries by 16.9 per cent.

Calculated from the beginning of the year, value of imports from EU member states decreased by 7.0 per cent and from other countries by 8.8 per cent. The volume of imports from EU member states decreased by 6.3 per cent, and the volume of imports from non-EU countries by 10.7 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. The content is explained in the text.

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.