Finland’s foreign trade has shown a mixed trend in the first quarter of 2023. According to the latest data from the Finnish Customs, the country’s total exports of goods and services amounted to €27.7 billion, while imports stood at €28.9 billion.
In terms of geographic regions, Europe remained the largest trading partner for Finland. In the first quarter of 2023, Finland’s exports to the Euro area and other countries outside the Euro area amounted to €9.98 billion and €17.7 billion, respectively. However, imports from Europe amounted to €17.67 billion and €16.63 billion, respectively, which was significantly higher than exports.
The data also revealed a decline in Finland’s trade with Africa. In the first quarter of 2023, exports to Africa amounted to €509 million, while imports stood at €274 million. Finland’s trade with America also saw a decline with exports of €3.98 billion and imports of €2.04 billion.
On the other hand, Finland’s trade with Asia remained relatively stable with exports of €4.03 billion and imports of €4.84 billion. However, imports from Asia were higher than exports, which could be a cause for concern.
Overall, Finland’s foreign trade performance in the first quarter of 2023 is a mixed bag, with some regions showing a decline in trade while others remained stable. The Finnish government will need to focus on promoting exports to reduce the trade deficit and ensure sustainable economic growth.