Finland’s foreign trade deficit decreased in August from a year ago, as imports fell faster than exports, preliminary figures from the Finnish Customs showed Thursday.
The trade deficit narrowed to EUR 160 million in August from EUR 209 million in the corresponding month of the previous year. In July, the trade balance showed a mere surplus of EUR 5 million.
Exports fell 5.0 percent year-over-year in August and imports dipped by 6.0 percent. Exports to EU member states dropped by 4.0 percent, while imports from EU-countries climbed by two percent.
Shipments to non-EU countries grew 7.0 percent in August from a year ago. At the same time, imports from non-EU countries plunged by 17.0 percent.
On a monthly basis, both exports and imports decreased by a seasonally adjusted 4.0 percent and 2.0 percent, respectively in August.
In the January to August period, total trade balance of the country showed a surplus of EUR 240 million against a deficit of almost EUR 1.8 million a year earlier. Exports slid 3.0 percent and imports declined by 8.0 percent.
The material has been provided by InstaForex Company – www.instaforex.com