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Finnish Trade Shortfall Widens In September

Finland's merchandise trade deficit widened significantly in September as exports stagnated and imports increased, data released by the Customs Office showed Thursday.

Overall foreign trade for the month resulted in a deficit of EUR430 million, which was markedly higher than the EUR79 million shortfall seen a year earlier. In August, the balance was a deficit of EUR230 million.

The value of goods exports remained broadly unchanged year-on-year at EUR4.6 billion. There was a 7 percent annual growth in shipments to the European Union (EU), which was offset by declines of 1 percent and 2 percent in dispatches to the Eurozone and the rest of the world, respectively.

Meanwhile, imports climbed 7 percent annually to about EUR5.05 billion in October. Purchases from the EU rose by 4 percent, and arrivals from the euro area increased 6 percent.

In the nine months ended September, both exports and imports decreased 3 percent each from a year earlier. The balance was a deficit of 1.67 billion during the period, lower than the EUR1.75 billion shortfall recorded in the corresponding period of last year.

by RTT Staff Writer