Foreign trade statistics compiled by Finnish Customs indicate the state and development of the economy now and in the future

Customs’ foreign trade statistics have reflected the state and development of the economy for 130 years. The past two years have seen changes and upheavals in global trade and the Finnish economy, more recently in terms of the sanctions imposed against Russia and the energy crisis. How will these changes affect Finland’s foreign trade, and what does the future look like? This is what the Customs Statistics festive seminar in Helsinki today will focus on.

The purpose of the statistics on foreign trade compiled by Finnish Customs is to meet the needs of society. Foreign trade statistics enable businesses to monitor the development of foreign trade, to obtain information on the market situation, and to use statistical information in developing their activities.

In 2022, foreign trade statistics have been important especially in analysing the impact of sanctions set by the EU against Russia, and in terms of the changes that have occurred in foreign trade.

– They used to say that knowledge is power. Maybe you don’t hear that saying too often nowadays. It could be because all operations are based on information to an ever-greater extent, and everyone must have the prerequisites for acquiring information. It is no longer a privilege for the few. Instead, access to information and the ease of its use are among the basic pillars of society. Statistics provide facts for everyone. Customs is pleased to serve everyone who requires information, and guides people to the right sources. It is a good idea to contact Customs Statistics when necessary, says Mr Hannu Mäkinen, Director General of Finnish Customs, who will open today’s festive seminar in Helsinki.

From timber to sanctions – what do foreign trade statistics tell us?

Finland’s geographical location has always affected our foreign trade. When Customs started compiling statistics on foreign trade in 1892, the most significant products that Finland exported were sawmill products, cardboard and paper. Finland’s most important trading partner was Russia. After Finland became independent, its main trading partner was the United Kingdom until the early 1970s. However, Finland’s trade with the Soviet Union increased considerably due to war reparations.

Finland’s trade with Russia collapsed in the spring due to Russia’s attack against Ukraine and the sanctions imposed by the EU. However, the decline in trade had started even earlier. Nowadays, more than half of Finland’s import and export takes place within the European Union.

– Times have changed since the early years of foreign trade statistics, and there have been many twists and turns in the history of Finland’s foreign trade. However, statistics also indicate a pattern of stability. Our main export product 130 years ago was timber, and the forest industry continues to hold its top place in Finland’s exports. Other currently significant fields of export include the chemicals industry, as well as metals, machinery and vehicles, and the electrical and electronics industry. Today our most important trade agreement is our EU membership, says Mr Olli-Pekka Penttilä, Director of Statistics, about the history of foreign trade statistics.

Also attending the Customs Statistics festive seminar as speakers are Ms Sanna Kurronen, Senior Economist at the Bank of Finland, and Mr Jyri Häkämies, CEO of the Confederation of Finnish Industries. Ms Kurronen will focus particularly on the current energy upheaval, and Mr Häkämies will speak about free trade.

You can attend the live event from 14.00 to 16.00: https://events.icareus.com/web/sisters/player/embed/webcast?eventId=198816715