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Finnish exports grew at double-digit rate in H1 of 2017

Finnish exports grew at double-digit rate in H1 of 2017

HELSINKI: Finnish exports grew at a double-digit rate in the first half of this year, according to preliminary data released by Finnish Customs. Finnish Customs on Monday reported that the value of exports increased by roughly 15 per cent year-on-year to 29.5 billion euros and that of imports by 14 per cent to 30.5 billion euros between January and June.

The trade balance consequently showed a deficit of 880 million euros, representing an improvement of over 200 million euros from the previous year. The preliminary data indicate that the value of exports crept up by two per cent year-on-year to 5.1 billion euros and that of imports by nine per cent to 5.1 billion euros in June, shaking out to a monthly trade deficit of 65 million euros.

The exports of metals, private motor vehicles, chemical industry products, and industrial machines and equipment rose particularly in June. The exports of oil products, and electrotechnical machines and equipment contrastively decreased from the previous year. The imports of oil products, pharmaceutical products, and industrial machines and equipment decreased from the previous year in June, while those of metals, electronics and tobacco products increased, according to the preliminary data. Finland recorded an increase of 15 per cent in the value of exports to other member states of the EU and one of 14 per cent to countries outside the EU between January and June. The value of goods imported from its fellow member states crept up by seven per cent and that of goods from third countries by as much as 24 per cent over the six first months of the year.