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Financial News: Finland Trade Balance Swings To Deficit In September

Finland Trade Balance Swings To Deficit In September

11/07/2022 - 05:27:00 (RTTNews)

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

The trade balance showed a deficit of EUR 330 million in September versus a surplus of EUR 96 million in the corresponding month last year.

Exports climbed 8.0 percent year-over-year in September, while imports rose at a much faster pace of 14.6 percent.

Shipments to the EU countries increased 2.7 percent annually in September and imports from them surged 16.1 percent.

Exports to countries outside the EU rose 15.5 percent in September and imports from those countries rose 12.8 percent.

During the January to September period, total exports and imports grew by 22.7 percent and 34.2 percent, respectively, from the same period last year.

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