Home > Statistics > International trade in goods and services > 2016 > 2nd quarter > Exports of services fell in the second quarter of 2016

Published: 15 September 2016

Exports of services fell in the second quarter of 2016

Exports of services continued declining in the second quarter of 2016, ending up at a lower level than in the corresponding quarter of 2015. Services were exported to the value of EUR 5.2 billion, while service imports amounted to EUR 6.0 billion. Exports of services decreased by 3.5 per cent in the second quarter year-on-year, while imports contracted by 1.4 per cent. The data appear from Statistics Finland's statistics on international trade in goods and services.

Imports and exports of services

The combined imports of goods and services grew and exports fell by three per cent in the second quarter of 2016 compared with the corresponding period in 2015. The growth in total imports is explained by a five per cent increase in imports of goods in customs terms. Goods exports in customs terms decreased similarly as services, by four per cent. The considerable growth in merchanting and goods sent abroad for processing, however, helped restrict the drop in total exports of goods and services to the mentioned three per cent.

International trade by area

The share of Europe increased in the total exports and imports of goods and services. In exports, the growth is explained by a two percentage point growth in the share of Europe outside the EU, which in turn is explained by increased exports to Sweden. The share of Russia continued to fall and its share in total exports declined by over one percentage point to only four per cent. The share of Russia in exports decreased in both goods and services. The share of Asia in total exports contracted by one percentage point.

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

In imports, the increased share of Europe is explained by the over one percentage point growth in the share of Europe outside the EU and the one percentage point growth in the share of the eurozone. It is notable that imports from Russia increased by more than one percentage point, which is explained by an increase in imports of goods trade. The share or all other examined areas in total imports decreased at the expense of Europe.

International trade in services by service item

The majority of the value of exports of services still comes from telecommunications, computer and information services. However, their exports decreased by over 14 per cent in the second quarter of 2016 compared with the corresponding period in 2015. Simultaneously, their share of service exports decreased by close on four percentage points. The drop in the exports of services was, however, curbed by the growth in the value of exports of royalties and licence fees n.i.e. by one-third over the same period. Their share of service exports increased by close on three percentage points. Exports of business and management consulting services and transportation also increased, while construction and project deliveries decreased.

Exports of services by service item

The share of construction and project deliveries also declined in service imports compared with the second quarter in 2015. Manufacturing services, in turn, increased their share. Among other business services, the imports of research and development services and business and management consulting services contracted, while the imports of technical, trade-related and other business services increased.

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 accurate 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). National Accounts are published on the quarterly and annual levels . Finnish Customs publishes data on goods trade across borders. Goods trade 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, Ari Knuuti 029 551 3344, globalisaatio.tilastot@stat.fi

Director in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Export in balance of payments terms, EUR mil. (15.9.2016)
• Appendix table 2. Import in balance of payments terms, EUR mil. (15.9.2016)
• Appendix table 3. International trade in balance of payments terms by region, EUR mil. (15.9.2016)

Revisions in these statistics

• Revisions in these statistics (15.9.2016)

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Updated 15.9.2016