Finland's trade surplus significantly decreased in November compared to the previous year, primarily due to a substantial decline in exports, according to the preliminary data released by Finnish Customs on Wednesday. The trade surplus narrowed to EUR 45.0 million in November, a stark contrast to the EUR 1.6 billion reported in the same month of the previous year.
There was a 24.5 percent year-on-year slump in exports in November, accompanied by a 6.6 percent reduction in imports. This considerable decrease in overall export value was partly attributed to the significant EUR 1.9 billion cruise ship exports recorded in November 2023 of the comparison year, the agency explained.
Exports to EU countries fell by 6.4 percent during November, with imports from these countries decreasing by 5.8 percent. Meanwhile, exports to non-EU countries experienced a dramatic 43.1 percent decline, and imports from these nations dropped by 13.1 percent.
