Finland and Estonia Report Divergent May 2026 Trade Data

Northern European trade data for May 2026 reveals opposing trends for Finland and Estonia. The Government of Finland experienced a sharp increase in its foreign trade deficit, which rose to EUR 910 million from EUR 5.0 million in May 2025. Preliminary figures from Finnish Customs show that imports grew by 22.7 percent annually, significantly outpacing a 7.5 percent climb in exports. While exports to non-EU nations grew by 19.2 percent, export values to EU countries fell by 0.3 percent.

Conversely, Estonia narrowed its trade gap during the same period. According to Statistics Estonia, the country's foreign trade deficit decreased to EUR 224 million, down from EUR 287 million in May 2025 and EUR 371 million in April 2026. This improvement was driven by a 9.0 percent growth in exports, which exceeded a 4.0 percent increase in imports. Estonian export growth was primarily fueled by higher foreign demand for mineral fuels, mineral oils, and electrical machinery and equipment, with shipments to EU member states rising by 13.0 percent.