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Published: 11 June 2009

Growth in exports of high technology to EU countries continued

In 2008 the value of Finland’s exports abroad of high technology products amounted to EUR 11.5 billion. Exports were down by EUR 150 million from the year before. By contrast, imports decreased clearly more, by EUR 550 million, and stood at EUR 8.7 billion. The share of high technology products of all goods exports was 17.6 per cent and their share of goods imports was 13.9 per cent. The surplus of foreign trade in high technology products rose to a good EUR 2.8 billion.

Despite a decrease in total exports of high technology products, exports to the EU27 area increased by EUR 660 million and reached a value of nearly EUR 6 billion. The share of the European Union of exports of high technology products was over one-half in 2008. The share of the EU of imports increased as well, even though the value of imports fell by EUR 80 million. As total imports amounted to some EUR 2 billion, Finland’s trade in high technology products with the EU showed a very large surplus. By contrast, trade with Asian countries showed an almost equally large deficit.

The most important destination country of exports of high technology products was Russia. The value of high technology products exported to Russia exceeded EUR 1 billion. The same value was recorded exports to Great Britain. Exports to Great Britain increased by EUR 120 million and those to Italy by EUR 330 million. At the same time these countries overtook Germany as the most important export destinations of high technology products. Exports to significant Asian destination countries, namely China, Saudi Arabia and the United Arab Emirates, shrunk by over EUR 200 million per country. EUR 3.6 billion, or nearly 42 per cent of the imports of high technology products, originated in China or South Korea.

Most important destination countries of Finland’s exports of high technology products 2008

Source: High technology foreign trade 2008, Statistics Finland

Inquiries: Tero Luhtala (09) 1734 3327, Ari Leppälahti (09) 1734 3237

Director in charge: Leena Storgårds

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Updated 11.6.2009