Finland's exports and imports both declined by more than 13 percent in July 2020 year-on-year, the Finnish Customs said in a press release on Monday.
In July, Finland's exports were worth almost 4.4 billion euros (5.2 billion U.S. dollars), and its imports were valued at 4.8 billion euros. The exports registered a 13.8-percent year-on-year decline, and imports down by 13.6 percent compared to July 2019.
Between January and July, the year-on-year decline in the value of the country's exports was 16.8 percent, and the respective figure for imports was 12.3 percent. Finland's trade deficit in January-July amounted to 2.1 billion euros, while in the same period of 2019 it was 507 million euros.
Exports to the European Union (EU) member countries decreased by 9.8 percent and to non-EU countries fell by 18.0 percent in July year-on-year. Imports from EU member countries declined by 12.2 percent and from non-EU countries fell by 15.3 percent in July, said the agency.
In July, Finland's exports to the U.S. were down by 38.3 percent, while the decline in Finnish imports from the U.S. was 8.8 percent in July, year-on-year.
The figures for Germany were minus 16.1 percent (exports) and minus 19.5 percent (imports). The country's exports to China in July were worth 240.2 million euros, down by 21.9 percent year-on-year, while imports from China were worth 470.2 million euros, a 0.5 percent decrease from July 2019.