Finnish exports to Russia continue to plummet
The value of exports from Finland to Russia continued to plummet in 2015, suggest preliminary statistics published by the Finnish Customs on Monday.
The Finnish Customs reported that the value of exports to Russia fell sharply across all categories of export goods, by a total of 34 per cent year-on-year between January and November of 2015. The fall was not quite as severe as the 47 per cent decline in the value of exports to Russia witnessed in 2009 but notably sharper than the 13 per cent decline witnessed in 2014. In particular, the exports of food, transport equipment and industrial machines dropped over the first eleven months of last year, by 67, 56 and 38 per cent respectively. Also the value of imports from Russia to Finland dropped notably as a result of the economic sanctions imposed by the EU, by a total of 32 per cent - one percentage point more than in 2009 - between January and Nov of 2015.