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Finland's exports up by 15 percent last year

The value of exported Finnish goods increased 15 percent in 2017 from the year before, which helped to narrow the trade deficit to 2.5 billion euros.

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Image: Jyrki Lyytikkä / Yle

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.

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