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Market Update: Finnish Trade Gap Narrows Slightly in July
Finland’s trade deficit narrowed slightly to EUR 460 million in July 2021 from EUR 467 million in the same month of the previous year, a preliminary estimate showed. It was the eighth straight month of deficit in trade balance, amid a further recovery global demand. Exports soared 22.5% to EUR 5.4 billion partly due to higher sales of timber, paper and board, pulp, and transport equipment. By contrast, sales dropped for copper and industrial machinery. Among major trade partners increases were seen in exports to the US, Germany, Sweden, Russia, China, the Netherlands and the UK. Meanwhile, imports increased at a softer 20.3% to EUR 5.9 billion, as purchases rose mainly for petroleum products. Imports grew from Sweden and Russian, but declined from China, and the UK. Considering the first seven months of the year, the trade deficit narrowed slightly to EUR 2.2 billion from EUR 2.3 billion in the same period of 2020. source: Statistics Finland [/s2If]
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