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Customs: Exports up by 29%, energy imports soar by 112%

Finnish exports continue to recover from the pandemic low of 2020, but the country still had a trade deficit of well over a billion euros in August.

Timber exports fell by 13 percent in August (file photo from Kaskinen, Western Finland). Image: Päivi Rautanen/Yle

Finnish exports rose briskly in August, Customs officials said on Thursday.

In August, 6.6 billion euros worth of goods were exported. That figure represents a 29 percent increase compared to August 2021 – when the value of exports rose by more than 17 percent from the pandemic low of 2020.

During the first eight months of this year, the value of exports increased by a quarter.

Imports grew even more briskly though, rising by almost 37 percent from a year earlier. Imports totalled nearly eight billion euros in August, driven by sharply rising energy imports, which climbed by 112 percent year-on-year.

On the other hand, the export value of energy products increased by 62 percent.

Mixed picture in forest products

Exports of electrical machinery and equipment were also very strong, shooting up by 46 percent year-on-year, while industrial machinery and equipment exports increased by 16 percent.

There was a mixed picture in the forest products sector. Finnish timber exports fell by 13 percent in August, but paper and cardboard exports surged by nearly one third, and pulp by 41 percent compared to a year earlier.

Finland had a trade deficit of almost 1.3 billion euros in August, adding up to almost nine billion euros over the first eight months of the year. The latter was three times higher than during the same period of 2021, when both exports and imports were still being hampered by pandemic-related problems.

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