Russia ceded leadership to Germany in trade with Finland
Publishedо 12 February, 2016
Analysis of the foreign trade of Finland in 2015 showed a sharp decline in export to Russia - by 34%, therefore, Russia is the third-largest player. At the same time, export to Germany increased by 14%, while import grew by 12%, allowing the country to become a major trading partner of Finland. The second largest trade partner in 2015 was Sweden, that showed a slight annual decline of import by 6% and export by 12%.
Significant reduction in the volume of export to Russia has affected many branches. So, for the year food export from Finland to Russia declined by 67%, transport equipment – by 56%, and industrial equipment - by 38%.
Imports of goods from Russia to Finland significantly reduced in 2015 (by 33%), and that is referred mainly to the fall in oil prices. According to the Prime Minister of Russia Dmitry Medvedev, trade relations with Finland will recover after the lifting of sanctions. At the same time, Finance Minister of Finland Alexander Stubb believes that it's too early to talk about lifting of sanctions
Source - fontanka.fi
