Balance of trade shows large deficit
Finland’s balance of trade figures have shown a deficit for the first time in twenty years. According to the National Board of Customs, a deficit of almost three billion euros was recorded between January and November 2011.
The Board predicts a deficit for the entire year in the absence of shipbuilding orders or similar large projects.
In November an additional deficit of 260 million euros was accrued. During the same period in 2010, the balance of trade showed a surplus of 392 billion euros.
Preliminary data from the National Board of Customs shows Finland’s foreign trade last year remained almost at the level of 2010.
Exports to EU nations increased while imports decreased. However, the situation was the reverse in trade with non EU nations.
Exports to countries outside the EU dropped by four percent compared to a 15 percent rise in imports.
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