Fin­nish ex­ports to Rus­sia con­tinue to plum­met

The Pak Banker - - COMPANIES/BOSS -

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.

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