BOFIT Viikkokatsaus / BOFIT Weekly Review 2015/16
Imports in the first quarter shrank 18 % y-o-y. Underlying the contraction in imports was in part the slide in global prices for oil and other commodities. Trends in import volumes, however, were varied. For example, volumes of crude oil imports were up 8 % from a year ago, while copper imports were down 18 %.
March’s exceptionally large 15 % drop in exports mainly reflects the late arrival this year of the Chinese Lunar New Year holidays.