Trade Balance Soars to €144m Surplus in April – Economy Scores Big!

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The balance of trade showed a surplus of EUR 144 million in April this year, according to the international trade in goods statistics provided by the Finnish Customs.

In April 2019, the trade balance had a deficit of EUR 321 million, said a Customs press release on Tuesday.

In January-April 2020, the trade balance had a deficit of about EUR 1.2 billion, while there was a deficit of EUR 51 million in January-April 2019.

The year-on-year value of Finnish exports of goods decreased by 19.9 per cent in April.

The value of Finnish exports was EUR 4.4 billion. Export volumes decreased by 15.4 per cent and export prices by 4.4 per cent year on year.

The year-on-year value of imports declined by 26.8 per cent in April to about EUR 4.3 billion. Import prices decreased by 3.8 per cent and import volumes by 23.1 per cent compared to that in April 2019.

In January-April, the aggregated value of exports decreased by 14.5 per cent and the value of imports by 9.1 per cent compared with that in the corresponding period of last year.

Exports of machinery and transport equipment declined by 25.0 per cent in April. Exports of forest industry products diminished by 9.9 per cent. Exports of metals and metal products decreased by 28.9 per cent. Exports of chemicals and related products increased by 0.7 per cent.

The value of exports of petroleum products declined by 57.8 per cent. Exports of food increased by 13.3 per cent and of instruments and apparatus by 6.5 per cent.

The value of imports of industrial supplies fell by 7.5 per cent and of capital goods by 14.3 per cent in April. The value of imports of fuels and lubricants diminished by 67.9 per cent. Imports of transport equipment and parts decreased by 67.5 per cent. Imports of consumer goods decreased by 13.2 per cent and of food and beverages by 5.1 per cent in April.

Exports to EU countries fell by 21.4 per cent and exports to non-EU countries by 18.0 per cent in April. Imports from EU countries decreased by 26.7 per cent and imports from outside the EU by 26.8 per cent in April. Exports to all major trading partners decreased. Exports to Germany decreased by 37.6 per cent, to the UK by 39.6 per cent and to the USA by 28.6 per cent. Imports from Germany fell by 30.4 per cent, from Russia by 54.8 per cent and from the USA by 30.7 per cent. In January-April, exports to EU countries declined by 14.8 per cent and to non-EU countries by 14.1 per cent. During the same period, imports from EU countries decreased by 7.7 per cent and from outside the EU by 11.1 per cent.

Source: www.dailyfinland.fi

14 Comments
  1. JessicaSmith123 says

    Did the decrease in export volumes and prices significantly impact the overall surplus in the trade balance for April?

    1. MarkJohnson789 says

      Yes, the decrease in export volumes and prices had a significant impact on the overall surplus in the trade balance for April. The value of Finnish exports decreased by 19.9% in April compared to the previous year, with both export volumes and prices down. This led to a more favorable trade balance, showing a surplus of EUR 144 million, a stark contrast to the deficit in April 2019. The dynamics of export performance are crucial in determining the trade balance, and the April figures reflect the influence of these factors.

  2. EmilyJohnson says

    It’s great to see the trade balance turning around from a deficit to a surplus. The increase in exports of chemicals and related products is a positive sign for the economy. Let’s hope this trend continues for the coming months!

  3. LilySmith92 says

    It’s impressive to see how the trade balance has turned around, shifting from a deficit to a surplus in just a year. Hopefully, this positive trend can be sustained for the country’s economy to recover even further.

  4. EmmaSmith23 says

    It’s impressive to see the trade balance reaching a surplus of €144 million in April this year, a great turnaround from the deficit in April 2019. Hopefully, this positive trend continues in the coming months to boost the economy further.

  5. Emily_Smith says

    It’s great to see the trade balance in Finland turning around with a surplus of €144 million in April! The significant decrease in export volumes and prices is concerning, but hopefully, this positive trend continues to boost the economy.

  6. EmilySmith says

    From the looks of it, the trade balance in April this year seems to be heading in the right direction with a surplus of EUR 144 million! It’s great news, especially considering the deficit in January-April. Hopefully, this positive trend continues for Finnish exports and imports in the coming months.

  7. EmilySmith says

    As a business analyst, I am thrilled to see the trade balance soaring to a EUR 144 million surplus in April! This positive turn reflects the resilience and adaptability of the Finnish economy amidst challenging times. It’s promising to witness the improvements in both exports and imports, setting a solid foundation for future growth.

  8. Susan92 says

    Is the increase in the trade balance mainly due to lower import volumes or higher export prices?

    1. Emily78 says

      The increase in the trade balance is primarily attributable to lower import volumes rather than higher export prices. Import volumes experienced a significant decrease, leading to a surplus in the trade balance.

  9. AlexJohnson25 says

    It’s great to see that the trade balance has turned into a surplus this year. Hopefully, this positive trend continues and boosts the economy even further!

  10. MeganSmith87 says

    It’s great to see the trade balance turning into a surplus of EUR 144 million in April! The economy is definitely making significant progress compared to last year. Hopefully, this positive trend continues in the coming months.

  11. AshleySmith92 says

    It’s great to see the trade balance soaring to a €144 million surplus in April! The positive shift from a deficit to a surplus is definitely good news for the economy. Let’s hope this trend continues in the coming months.

  12. AmyJohnson says

    It’s impressive to see the trade balance turning into a surplus of EUR 144 million compared to the deficit in previous months. This positive shift reflects the resilience of the economy despite the challenging circumstances worldwide.

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