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Finland Exports Lowest In Two Years

2/7/2013 2:20 AM ET

Finland's exports declined to their lowest level in two years in December and led to a deficit for the month, data released by the Finnish Customs showed Thursday.

Exports fell 14 percent year-on-year to EUR 4.075 billion, which was the lowest since July 2010. Shipments of electrotechnical products decreased nearly a third and exports of machines, iron, steel and cars remained at a clearly lower level than in 2011, the agency said.

In December, exports to EU countries were 16 percent lower, while imports from the group slid 15 percent. Shipments to non-EU countries shrunk 11 percent and imports by 4 percent.

Imports shrank 10 percent to EUR 4.81 billion. The trade deficit for December widened to EUR 735 million from EUR 591 million in the previous year. In November, Finland had a trade surplus of EUR 185 million.

Month-on-month, exports declined a seasonally adjusted 8 percent, following a 3 percent drop in November. Imports rose 7 percent, after an 8 percent decrease in the previous month.

For the year 2012, Finland registered a deficit of EUR 2.295 billion versus a EUR 3.680 billion shortfall in 2011.

by RTT Staff Writer

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