09.07.201004:13:00UTC+00Finnish May Trade Surplus Narrows

Finland's trade balance continued to be in surplus for a second consecutive month in May, although the amount narrowed from April.

The trade balance logged a surplus of EUR 190 million in May, down from EUR 250 million in April, data released by the National Board of Customs showed Friday. However, the surplus rose from EUR 35 million recorded in the same month of last year.

Exports rose 19% year-on-year to EUR 4.13 billion. In April, the value of exports was EUR 4.34 billion. On the other hand, imports grew 15% annually to EUR 3.94 billion. The value of imports dropped from EUR 4.09 billion recorded in April. The customs office said the increase in exports was mainly led by a rise in shipments to EU, particularly to Sweden, the Netherlands and Germany.

Also on Friday, data released by the Statistics Finland showed that manufacturing new orders jumped at a quicker pace in May. New orders grew 40.5% year-on-year, much more than the 22.2% increase recorded in April. The increase clearly shows that business conditions improved remarkably this year compared to the same month of the previous year, when orders plunged 39.5%. New orders rose for the fourth consecutive month.

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