December quiet month for exports

In December, the volume of goods exports grew by almost 4 percent relative to December 2006, the poorest result over 2007. The volume of imports increased by 3 percent in December. The holiday pattern in December 2007 varied from December 2006. This may have had a downward effect on the growth rate of foreign trade.

Import prices were up by 4 percent while export prices went up by 3 percent on December 2006. This is partly due to high prices for oil and oil products.

The value of exports was 28.7 billion euro, an increase by 6 percent relative to December 2006. The value of imports grew by 7 percent to reach 25.3 billion euro, resulting in a trade surplus of 3.3 billion euro.

The growth of the value of exports to EU countries was less substantial than to non-EU countries. The growth of imports to EU countries was the same as to non-EU countries. Imports and exports of mineral fuels rose markedly relative to December 2006.

The trade surplus over 2007 totalled an unprecedented 41.1 billion euro. The value of exports of goods was 347.6 billion euro, a 9 percent increase on 2006. The value of imports grew by 7 percent to 306.5 billion euro.

Goods exports (volume)