Nordic & Baltic Trade Data Mixed as Manufacturing Strength Emerges

Lithuania Trade Gap Widens in June

Lithuania posted a trade deficit of EUR 713.1 million in June 2026, widening from EUR 404.0 million in the corresponding month a year earlier. Exports increased 18.5% year-on-year to EUR 3,546.5 million, driven by higher shipments of mineral fuels, mineral oils and products of their distillation (52.5%), plastics and articles thereof (19.2%), and iron and steel (2.4%). Meanwhile, imports climbed 25.4% to EUR 4,259.6 million, mainly reflecting stronger purchases of mineral fuels, mineral oils and products of their distillation (2.1%), ground vehicles and parts thereof (20.3%), and electrical machinery, equipment and parts thereof (23.9%). Over the first six months of the year, the country’s trade deficit widened to EUR 3,526 million from EUR 3,239 million, as imports (6.0%) continued to outpace exports (5.5%). Exports increased to Latvia (13.9%), Poland (26.2%), and the Netherlands (14.5%), while imports also rose from Poland (6.0%), Germany (2.5%), Latvia (9.0%), and Norway (90.9%).

Finland Trade Surplus Hits Record High

Finland’s trade surplus widened to EUR 1.89 billion in June 2026 from EUR 0.88 billion in the corresponding month of 2025, according to preliminary estimates. This marked the largest trade surplus ever recorded, as exports rose faster than imports. Exports rose 39.6% year-on-year to EUR 9.0 billion, supported by higher shipments to both EU countries (12.8%) and non-EU countries (10.5%). Among Finland’s major trading partners, exports surged to the US (338.2%) and also increased to China (54.1%), Sweden (20.7%), and Germany (12.0%). Meanwhile, imports climbed 17.6% to EUR 7.15 billion. It should be noted that imports from EU countries are now compiled using a new methodology starting January 2026, so only total values are comparable with those of 2025. For the January–June period, Finland posted a trade deficit of EUR 1.10 billion, widening from a EUR 0.65 billion deficit in the same period of 2025.

Danish Manufacturing Output Growth at 3-Month High

Denmark’s manufacturing production jumped 6.4% month-on-month in June 2026, rebounding from an upwardly revised 3.5% fall in the previous month. This marked the highest reading in three months, as output recovered most industries, particularly food, beverages, and tobacco (3.1% vs -1.2% in May), textiles, clothing, and leather (11.7% vs -12.3%), pharmaceutical products (7.3% vs -7.8%), metal and metal products (12.8% vs -8.4%), electronics (25.9% vs -1.7%), electrical equipment (3.4% vs -0.9%), machinery (13.1% vs -7.6%), and transport (26.7% vs -23.7%). On the other hand, production growth slowed in wood, paper, and printing (0.3% vs 1.5%), while activity declined in rubber, plastic, and glass (-1.6% vs 0.0%) and mineral oil and chemicals (-4.4% vs 4.0%). On a seasonally adjusted annual basis, manufacturing activity rose by 9.7% in June, following a downwardly revised 4.7% increase in the preceding period.

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