Finland's trade deficit widened to EUR 280 million in May 2020 from EUR 15 million in the same month of the previous year, a preliminary estimate showed. Exports plunged 30.9 percent partly due to lower sales of transport equipment, petroleum products, machinery equipment, and forest industry products. By contrast, sales of copper and nickel rose. Among major trade partners, decreases were seen in exports to Germany, Russia and the US. Meanwhile, imports tumbled 26.3 percent as purchases of petroleum products, transport equipment, machinery and equipment were down, while nickel imports rose sharply. Imports dropped from the US, Russia and Germany. Considering January to May of this year, the trade gap widened to EUR 1.5 billion from EUR 65 million in the same period of 2019.
Balance of Trade in Finland averaged 202.47 EUR Million from 1975 until 2020, reaching an all time high of 1749 EUR Million in November of 2002 and a record low of -796 EUR Million in December of 2012. This page provides - Finland Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Finland Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Statistics Finland
Balance of Trade in Finland is expected to be -170.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Finland to stand at -330.00 in 12 months time. In the long-term, the Finland Balance of Trade is projected to trend around -380.00 EUR Million in 2021, according to our econometric models.