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Finland exports keep losing markets in January

Xinhua, March 10, 2016 Adjust font size:

Finnish exports indicated a sharp decline in January, Finnish customs said on Wednesday.

The exports amounted to 3.6 billion euros and declined ten percent compared with last year. Exports to all key target countries declined with China being the only exception.

Also imports declined by nine percent and were 3.9 billion euros. Only the imports from China and Norway increased.

Finnish customs said the decline in exports concerned all main product groups. There was growth in export of appliances and measurement tools though and a transaction involving an aircraft balanced the picture.

In terms of countries, the largest decline was in exports to Britain, Russia and the Netherlands.

Finnish balance of trade showed a deficit of 320 million euros. In January 2015, the deficit was 300 euros.

Economic news service Taloussanomat quoted analyst Henna Mikkonen of Danske Bank as saying that the problems of Finnish exports increased more than expected. She said that the development of global economy has a greater role for the future of Finnish exports than the outcome of the current incomes policy talks.

"Recovery of Finnish economy has traditionally been based on exports as world economy recovers, but now that link has not functioned. Finland is losing market shares in world trade", Mikkonen said. Endit