Category: finland
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Finnish Defence Forces Participate in Aurora 23 Exercise to Strengthen Baltic Sea Region Defense with International Partners
The Finnish Defence Forces participated in the Swedish Armed Forces’ Aurora 23 exercise, involving over a thousand soldiers from various branches, reservists, and personnel from the Logistics Command, to develop preparedness and ability to cooperate with Sweden and other international partners in defending the Baltic Sea region. The exercise showed that Finland and Sweden are…
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New Orders in Finnish Manufacturing Decreased by 3.5% YoY in March 2023
Statistics Finland has reported a 3.5% decrease in the value of new orders in manufacturing in March 2023 compared to the same period in the previous year. While the paper industry saw growth, the chemical and metal industries experienced a decline in orders. However, the statistics should be viewed in the context of the statistical…
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Industrial Output in Finland Sees Growth in March 2023, Both Month-on-Month and Year-on-Year
According to Statistics Finland, industrial output in Finland grew by 3.0% in March 2023 compared to the previous month and 4.5% compared to March 2022, adjusted for working days. However, output decreased from the previous year in most of the main industries examined, except for electricity, gas, steam, and air conditioning supply and the metal…
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Finland’s 2023 Government Negotiations Underway: Parties Discussing Key Issues
The government negotiations for 2023 have begun in Finland, led by the government builder Petteri Orpo. The participating parties include the National Coalition Party, the Finns Party, the Swedish People’s Party, and the Christian Democrats. The negotiations will determine the government’s program, the number of ministers, the allocation of ministerial posts, and the division of…
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Finland’s Energy Import Value Surges by 86% in 2022, Led by Higher Energy Commodity Prices
The value of energy imports in Finland grew by 86% in 2022, according to Statistics Finland’s preliminary data, with higher import prices of energy commodities being a major factor. However, the import volumes of energy commodities both rose and fell. In contrast, the value of energy exports increased by 74% compared to the previous year,…
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Current expenditure on education sees significant growth in 2021, says Statistics Finland
Statistics Finland reports that current expenditure on education increased by 3.6% in real terms in 2021, with current expenditure per student also increasing by 2.1%. Although current expenditure on education relative to GDP has decreased since 2010, it has remained at the same level in recent years. The costs of comprehensive school education made up…
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Producer Prices of Agricultural Products in Finland Rose by Nearly 17% in Q1 2023, Reports Statistics Finland
Producer prices of agricultural products in Finland rose by 16.9% in Q1 of 2023 compared to the same period last year, with meat and animal products seeing the highest increase of 24.7%, according to Statistics Finland. Despite the fall in grain prices, the rise in the prices of vegetables, potatoes, industrial crops, and forage plants…
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Finnish Non-Financial Corporations Draw Down €1.8 Billion in New Loans Despite Higher Interest Rates in March 2023
In March 2023, Finnish non-financial corporations drew down a total of EUR 1.8 billion of new loans from credit institutions operating in Finland, despite the average interest rate on new loans increasing to 4.95%. This rise was driven by an increase in the interest rate on large loans, but drawdowns of large loans still amounted…
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Finland’s Harmonised Index of Consumer Prices Reveals 6.4% Year-on-Year Surge in April 2023, Driven by Food and Non-Alcoholic Beverages
Statistics Finland has released preliminary data showing a year-on-year change of 6.4% in the Harmonised Index of Consumer Prices for April 2023. The largest year-on-year increase was in the division for food and non-alcoholic beverages, with a 14.1% change. The Harmonised Index of Consumer Prices does not include certain items, such as owner-occupancy and fire…
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Statistics Finland: Hard Coal Consumption Drops 11% in Q1 2023 Compared to Last Year
Statistics Finland’s preliminary data indicates that in the first quarter of 2023, the consumption of hard coal decreased by 11% compared to the previous year, with a total consumption of 620 thousand tonnes. This is part of a longer-term trend of declining hard coal consumption, with a 56% decrease in consumption compared to the 2000s…
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Finland and US Sign MoU to Boost Cooperation in Nuclear Energy and Waste Management
Finland and the United States have signed a Memorandum of Understanding (MoU) to intensify cooperation in nuclear energy and nuclear waste management. The MoU was signed by the Director General of the Ministry of Economic Affairs and Employment, Riku Huttunen, and the Assistant Secretary for the US Office of Nuclear Energy, Kathryn Huff, in Washington…
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Finnish Total Trade Turnover Grows 0.3% in March 2023, Retail Trade Turnover Up 2.6%
According to Statistics Finland’s preliminary data, the working day adjusted turnover in total trade grew by 0.3% in March 2023 compared with March 2022. However, the volume of total trade sales decreased by 3.9% over the same period. The working day adjusted turnover of retail trade grew by 2.6% in March compared to March 2022,…
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Finnish Government Emphasizes Need for Flexibility in Enhancing Communication Infrastructure
The Finnish government has submitted a communication to Parliament regarding a European Commission proposal for a Regulation to enhance the deployment of high-speed communication networks. While supporting the objectives of the proposal, the government stresses that Member States should have adequate leeway to accommodate national characteristics when implementing the Regulation. The government is particularly concerned…
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Variable Fuel Prices in Finland: Petrol 98 E 5 Remains High, Diesel and Petrol 95 E 10 Fluctuate, and Light Fuel Oil Declines
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Consumer Confidence in Finland Reaches Over One-Year High in April 2023, Says Statistics Finland
Consumer confidence in Finland improved in April 2023, with the balance figure of the consumer confidence indicator rising from -10.8 in March to -7.9 in April, and was higher than the -11.7 figure recorded in April 2022. Expectations for the Finnish economy also improved, but were still relatively weak, while intentions to purchase durable goods…
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Finland’s population grows due to migration gain from abroad
Finland’s preliminary population figure as of March 31, 2023 was 5,568,637, representing an increase of 4,667 persons during the first quarter of the year. The growth was due to migration gain from abroad, with 9,126 more immigrants than emigrants, while the number of births was 4,516 lower than that of deaths.
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Finnish Financial System Faces Risks as Interest Rates Rise, Says Deputy Governor of Bank of Finland
The Bank of Finland’s Deputy Governor, Marja Nykänen, has warned that rising interest rates are putting pressure on households and could weaken the Finnish economy if spending is cut back significantly. The increase in interest rates has also led to a decline in property prices and reduced house sales in Finland. Nykänen emphasized the importance…
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Costs of Civil Engineering Rise by 6.4% in March 2023, According to Statistics Finland
The costs of civil engineering in Finland increased by 6.4% in March 2023 compared to the same period the previous year, according to Statistics Finland. The rise varied by sub-index, with rock structures seeing the largest increase of 11.4% and surfacing decreasing by 1.0%. The biggest cost increases occurred in the costs of own machinery…
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NATO Exercise Programme Alignment Conference to be Hosted by Finland as Newest Member
The NATO Exercise Programme Alignment Conference (NEPAC) will take place in Helsinki on April 25th and 26th, 2023. The Finnish Defense Forces will host the event for the first time as a full member of NATO. The conference aims to synchronize the exercise programs of NATO and its allies to enhance their military capability in…
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Producer Prices for Services in Finland Rise by 4.7% YoY in Q1 2023: Statistics Finland
According to Statistics Finland, the producer price index for services increased by 4.7% year-on-year in Q1 of 2023, and by 0.9% compared to the previous quarter. The rise in prices was mainly caused by higher prices of transport services, food and beverage serving services, and rental and operating services of own or leased real estate.…