Finland trade deficit has narrowed in November, a release from Statistics Department showed. The country’s trade deficit was Euros 240 million in November compared to Euros 256 million in the year-ago period.
Within the EU region, Finland has seen its exports growing at a rate of 15 percent in November while the expansion was 13 percent to non-EU nations. As far as imports were concerned, imports increased 12 percent from the EU nations while it was 15 percent from non-EU nations.
The release pointed out that “Calculated from the beginning of the year, exports to EU increased by 17 per cent and to non-EU countries by 13 per cent. During the same period imports from EU member states increased by ten per cent and from other countries by 20 per cent.”
Based on a preliminary statistics, Finland trade deficit narrowed due to exports growing at a pace of 14 percent whereas imports value advanced 13 percent in November on a year-on-year basis. The national exports were Euros 5.2 billion in the month whereas the imports value was marginally below Euros 5.5 billion.
For the year-to-date period, Finland trade deficit was Euros 2.1 billion, which was narrower than Euros 2.6 billion seen in the preceding eleven-month period. This was possible due to exports value expanding by 16 percent while imports value increased 14 percent during the period under review.