Financial News: Finland Trade Deficit Widens To EUR 670 Mln

Finland Trade Deficit Widens To EUR 670 Mln

02/07/2023 - 08:10:00 (RTTNews)

(RTTNews) - Finland's foreign trade gap widened at the end of the year, as exports fell faster than imports, preliminary figures from the Finnish Customs showed on Tuesday.

The trade deficit rose to EUR 670 million in December from EUR 231 million in the corresponding month last year.

The value of exports dropped 12.2 percent year-on-year in December and imports contracted 6.1 percent.

Shipments to the EU countries fell 21.7 percent annually in December and imports from those nations declined 1.7 percent.

Meanwhile, exports to countries outside the EU rose 3.6 percent in December and imports from those countries plunged 17.8 percent.

During the year 2022, the total trade deficit was EUR 10.8 billion, up from EUR 4.0 billion in 2021. Both exports and imports surged by 18.2 percent and 26.5 percent, respectively.

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