Home > Statistics > International trade in goods and services > 2016 > 4th quarter > Service exports at the previous year’s level in the last quarter of 2016

Published: 15 March 2017

Service exports at the previous year’s level in the last quarter of 2016

Service exports remained at the previous year’s level in the last quarter of 2016. Service imports, in turn, went up by 1.6 per cent from the corresponding quarter of the year before. When examining the full year 2016, service exports declined by 1.6 per cent and imports increased by one per cent. In 2016, services were exported from Finland to the value of EUR 23.0 billion and imported to the value of EUR 25.7 billion. The drop in exports was affected most by a EUR 0.7 billion decline in telecommunications, computer and information services. The imports of services started growing in the second quarter of 2016 compared with the previous year. The data appear from Statistics Finland's statistics on international trade in goods and services.

Imports and exports of services

The combined exports of goods and services grew by 0.4 per cent in the last quarter of 2016, while the earlier quarters declined compared to the corresponding periods in 2015. The upturn in exports is explained by the strong growth in factoryless production, goods sent abroad for processing and merchanting in 2016. These figures are, however, preliminary and involve uncertainty. During 2016, total exports increased by 1.9 per cent from 2015.

The combined imports of goods and services, in turn, made an upturn in the second quarter compared with the previous year. In the last quarter of 2016, it grew by 2.2 per cent compared to the corresponding quarter in 2015. Due to the heavy decline of over four per cent in the first quarter, imports only increased, however, by 0.7 per cent in 2016 compared with 2015.

International trade by area

The shares of different areas in total exports of goods and services have mostly remained unchanged during 2016 compared to the corresponding periods in 2015. Total imports from Russia, however, increased by 31 per cent in the last quarter compared with 2015. The share of Russia in total imports, thus, grew by two percentage points in the period in question. The growth in total imports from Russia is explained by goods imports but service imports also increased.

Service exports to China have grown when comparing all quarters of 2016 to the corresponding quarters of the previous year. The country-specific service imports shares have remained more or less unchanged in 2016. The share of service imports from Sweden has, however, grown by 2.3 percentage points from one year ago.

Exports of goods and services in balance of payment terms by area

International trade in services by service item

The biggest single export item, telecommunications, computer and information services* decreased in all quarters of 2016 compared to the corresponding quarters in the previous year. In the last quarter of the year, the decline was over four per cent compared to 2015. In 2016, the exports of this item decreased by EUR 735 million, which is a ten per cent drop compared to 2015. Exports of transportation and goods sent abroad for processing also decreased from the year before. Service exports grew, for example, in construction and project deliveries, royalties and licence fees n.e.c., business and management consulting services and other services.

The imports of tourism increased in every quarter of the year compared to the corresponding quarters in the year before. In the last quarter of 2016, they were EUR 196 million higher than in the corresponding quarter of 2015. The growth in service imports was, however, curbed by a drop in the imports of construction and project deliveries. Imports of this service item dropped in every quarter of the year compared with the corresponding periods of the year before and ended up in a EUR 90 million decline in the last quarter of the year.

Exports of services by service item

Statistics on international trade

The statistics on international trade in goods and services are part of balance of payments . The statistics comprise breakdowns of goods and services on a more detailed level. The guidelines and recommendations of the Balance of Payments Manual (BPM6) applied to balance of payments are consistent with the European System of Accounts (ESA 2010). Starting from 2014, the figures are not fully comparable with those for previous years due to changes in the recording method of factoryless production. More information about this can be found under Changes in these statistics. National Accounts are published on the quarterly and annual levels . Finnish Customs publishes data on trade of goods across borders. The trade of goods published by Finnish Customs is used as source data for the statistics on international trade in goods and services. Removals and additions caused by definitions are made to them to achieve goods trade in balance of payments terms.

Finnish Customs’ statistical service, tilastot@tulli.fi, +358 29 552 335.

Source: International trade in goods and services 2016, Statistics Finland

Inquiries: Risto Sippola 029 551 3383, Terhi Tulonen 029 551 3604, globalisaatio.tilastot@stat.fi

Director in charge: Ville Vertanen

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Appendix tables

• Appendix table 1. Export in balance of payments terms, EUR mil. (15.3.2017)
• Appendix table 2. Import in balance of payments terms, EUR mil. (15.3.2017)
• Appendix table 3. International trade in balance of payments terms by region, EUR mil. (15.3.2017)

Revisions in these statistics

• Revisions in these statistics (15.3.2017)

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Updated 15.3.2017