Fall in exports of services continued in the third quarter of 2016

Exports of services continued declining in the third quarter of 2016, ending up at a lower level than in the corresponding quarter of 2015. Services were exported to the value of EUR 5.3 billion, while service imports amounted to EUR 5.8 billion. Exports of services went down by five per cent in the third quarter from one year ago, while imports of services went up by four per cent over the corresponding period. The data appear from Statistics Finland's statistics on international trade in goods and services.

Imports and exports of services

The combined exports of goods and services fell by three per cent in the third quarter of 2016 compared with the corresponding period in 2015. In turn, the combined imports remained on level with the previous year. In the third quarter of 2016, goods and services were exported to the value of EUR 18.3 billion, while imports of goods and services amounted to EUR 18.7 billion. Goods exports in customs terms went down by five per cent, but as goods exports derived from merchanting and goods sent abroad for processing multiplied, the fall in total exports of goods and services decreased to the mentioned three per cent.

International trade by area

The shares of different areas in total exports and imports of goods and services have mostly remained unchanged during 2016 compared to the corresponding periods in 2015. However, exports to Russia are an exception. They have fallen throughout the entire statistical reference period when comparing each quarter to the corresponding quarter of the previous year. In the third quarter of 2016, the share of exports to Russia went down for both goods and services compared with the share in the corresponding quarter of the previous year.

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

The fall in imports of goods and services from Russia has evened out starting from the second quarter of 2015. The majority of imports from Russia comes from goods and there has been no significant fall in services since the first quarter of 2014.

International trade in services by service item

Exports of telecommunication, computer and information services* continued to fall in the third quarter of 2016. From the corresponding quarter of the previous year, they went down by 16 per cent and from the previous quarter by 17 per cent. Exports of telecommunication, computer and information services have last been this low in the early part of 2013. Their share of service exports fell by over three percentage points compared with the corresponding period of the previous year. 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 nearly four percentage points. Exports of business and management consulting services also grew, while exports of construction and project deliveries and manufacturing services went down when comparing the third quarter of 2016 with the corresponding quarter of 2015.

Exports of services by service item

The growth in service imports is mainly explained by growing imports of business and management consulting services and travel. Imports of business and management consulting services went up by as much as 40 per cent from the corresponding period of 2015. The share of construction and project deliveries also declined in imports compared with the third quarter in 2015.

Statistics on international trade

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 detailed 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 quarterly and annual levels. Finnish Customs publishes data on trade of goods across borders. The trade of goods 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, Terhi Tulonen 029 551 3604, globalisaatio.tilastot@stat.fi

Director in charge: Mari Yl�-Jarkko

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Appendix tables

Appendix table 1. Export in balance of payments terms, EUR mil. (15.12.2016)
Appendix table 2. Import in balance of payments terms, EUR mil. (15.12.2016)
Appendix table 3. International trade in balance of payments terms by region, EUR mil. (15.12.2016)

Revisions in these statistics

Revisions in these statistics (15.12.2016)

Updated 15.12.2016

Referencing instructions:

Official Statistics of Finland (OSF): International trade in goods and services [e-publication].
ISSN=2343-4244. 3rd quarter 2016. Helsinki: Statistics Finland [referred: 21.11.2024].
Access method: http://www.stat.fi/til/tpulk/2016/03/tpulk_2016_03_2016-12-15_tie_001_en.html