The value of goods that Finland exported last year increased 15 percent compared with 2016, a jump largely driven by transport equipment and metal industry products. The exports of petroleum products also rose, together with most other sectors, but exports of pharmaceutical products dropped.
In total, the value of goods exports amounted to 59.5 billion euros last year. The last time Finland’s exports grew on an annual basis was in 2011.
Goods exports to the European Union increased 17 percent, to the eurozone 20 percent and to non-EU countries 12 percent.
Meanwhile, imports to Finland grew by 13 percent last year, with transport equipment parts, fuels and lubricants increasing the most. Imports of consumer goods fell on the other hand.
As the value of exports grew, the trade deficit narrowed to 2.5 billion euros last year from 3.1 billion in 2016.
Related stories from around the North:
Canada: Arctic nickel, not oil, could soon power the world’s cars, Blog by Mia Bennett, Cryopolitics
China: It’s official: China releases its first Arctic Policy, Blog by Mia Bennett, Crypolitics
Finland: Russia-Finland trade gains momentum after years of decline, The Independent Barents Observer
Norway: Can Barents region become a superhub on China’s Arctic Silk Road?, The Independent Barents Observer
Russia: «Finland’s Pyhäjoki nuclear plant takes our pension money», The Independent Barents Observer
Sweden: Swedish minister Margot Wallström takes on the lead in Barents, Radio Sweden
United States: Big questions emerge over $43 billion gas-export deal between Alaska and China, Alaska Dispatch News