Finland’s goods exports fall in August, likely to decline annually and sequentially in Q3

In August, Finland’s good exports came in slightly weaker than projected. The value of Finnish goods exports fell 2.6 percent year-on-year in the month, the data released this morning showed. It seems that the third quarter exports are expected to decline annually as well as sequentially and in terms of values and volumes, according to Nordea Bank.

As the exports came slightly weaker than projected, the news is a tad on the negative territory. There is little doubt that the exports in the third quarter would fall behind the quarter one year ago. The initial two months of the third quarter registered a total decline of 7.8 percent year-on-year and it is just too much to anticipate the September data can total compensate for that, stated Nordea Bank.

Comparing the third quarter to second quarter, it appears to be almost the same. There definitely is possibility of a decline in the cards. In the second quarter, exports were stimulated after a ship was delivered to Germany, and now it appears that the second quarter is not able to quite match it, said Nordea Bank.

Export prices have dropped from the year earlier, making exports drop less in volumes as compared to value, added Nordea Bank.