Estonia’s export to Finland grows despite Finnish downturn


Despite the Finnish economic downturn, Estonia has been able to grow its export to Finland, according to Imre Siil, economic diplomat at the Estonian Embassy in Helsinki.

According to the Statistics Office, Estonia exported 921 million euros' worth of goods to Finland during the first five months of 2013, which is considerably more than the 173 million euros during the same period last year.

Siil said that export to Finland did grow during four months, falling only in March. Taking into account the small size of Estonia, one must bear in mind that one larger deal might have a considerable effect on monthly statistics, he said.

Siil added that the economic downturn in Finland has not had any direct impact on Estonia yet. "Probably it is a longer-term process," he thought. In one hand, outsourcing companies located in Estonia might be in trouble if Finland does not get industrial orders. On the other hand, when an Estonian company enters the Finnish market with favorable prices, it might be beneficial to Estonia, he said.

Source: Savik, L. (2013) Diplomaat: Eesti eksport Soome on kasvanud. E24 majandus, 15. juuli.