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Financial News: Finland Trade Balance Swings To Deficit In April

Finland Trade Balance Swings To Deficit In April

06/06/2024 - 03:53:00 (RTTNews)

(RTTNews) - Finland's foreign trade balance turned to a deficit in April from a surplus in the previous year as imports grew faster than exports, preliminary figures from the Finnish Customs showed on Thursday.

The trade balance showed a deficit of EUR 320 million in April versus a surplus of EUR 270 million in the corresponding month last year.

Exports climbed 2.4 percent year-over-year in April, while imports rose at a much faster pace of 10.5 percent.

The maintenance shutdowns at the oil refinery had a major impact on the 60 percent drop in the value of energy product exports, the agency said.

Shipments to the EU countries decreased 10.6 percent annually in April, while imports from them grew 7.8 percent.

Exports to countries outside the EU rose 9.7 percent in April, and imports from those countries climbed 5.0 percent.

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