Figures from the Finnish Customs show that exports and imports to Russia the first three months of the year dropped 16 percent and 18 percent respectively.
With the trade drop, Germany exceeds Russia as Finland’s biggest export market. Russia still accounts for the biggest part of Finland’s imports, much thanks to the extensive energy trade.
According to a new report, all main export goods to Russia are on the decline. The biggest export product groups, chemical products and motor and machinery dropped 22 percent and 20 percent respectively. The total value of the exports in the period amounted to €1,06 billion while imports was €2,33 billion.
The trend unfolds as political relations between the countries are increasingly tense and as the Russian economy is on the verge of going into recession.
Significant is also the trend in Finnish tourism, a sector highly dependent of Russian visitors. Figures from Statistics Finland show that the number of Russian tourists in Finland is decreasing significanlty over several months. In April, the number of Russian overnight stays in Finland fell by 20 percent year-on-year.