Finland’s foreign trade continued on downward trend in March

Unemployment below Eurozone average

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Finland’s foreign trade continued on a steep downhill slide in March.
      According to the National Board of Customs, the total value of Finland’s exports in the month of March was EUR 3,821 million, which is a third less than a year earlier.
      The rate of decline was nevertheless slightly more moderate compared with the preceding months.
      Imports also fell by 30% to a value of EU 3,815 million, meaning that the balance of trade in March was more or less even.
      The trade deficit for the year to the end of March is nevertheless around EUR 100 million, compared with a EUR 700 million surplus in 2008.
     
Finland’s exports to Russia were hit particularly hard during the early part of 2009, their value barely reaching half of last year’s corresponding figure.
     
The seasonally-adjusted unemployment rate of the 16 Eurozone countries rose to 9.2 per cent in April.
      In a 12-month period, unemployment has increased by nearly two percentage points, and the aggregate number of the unemployed in the euro area was increased by more than three million to 14.6 million in total.
      The unemployment rate within all the 27 EU nations, in turn, was “only” 8.6 per cent.
      The Eurozone’s lowest unemployment rate of 3.0% was observed in the Netherlands. Spain, in turn, has the area’s highest unemployment at 18.1%.
     
According to Eurostat, Finland’s unemployment rate stood at 7.8 per cent.
      This is clearly below the Statistics Finland estimate of 8.8%.


Previously in HS International Edition:
  Balance of trade shows largest deficit since 1991 (3.4.2009)

Links:
  Finnish Customs - Foreign Trade Statistics
  Eurostat news release
  Statistics Finland: Unemployment rate 8.8 per cent in April

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