InFocus | Finland
High technology products rank high in foreign trade
The value of Finnish exports of high technology products rose to about 11.2 billion euros (about Dh52.07 billion) in 2005, having increased by 2.6 billion euros (about Dh12.08 billion), or a good 30 per cent, from the year before. At the same time, the value returned to almost the peak level it reached in 2000.
- Published: 00:00 July 8, 2006
The value of Finnish exports of high technology products rose to about 11.2 billion euros (about Dh52.07 billion) in 2005, having increased by 2.6 billion euros (about Dh12.08 billion), or a good 30 per cent, from the year before. At the same time, the value returned to almost the peak level it reached in 2000.
High technology products accounted for 21.3 per cent of all Finnish exports. Imports of high technology products also went up by 30 per cent, reaching the record value of 7.3 billion euros (about Dh33.94 billion). The value of imports rose by 1.7 billion euros (about Dh7.9 billion) and high technology products accounted for 15.7 per cent of all imports.
The share of electronics and telecommunications equipment again exceeded 80 per cent of the total value of exports of high technology products, and amounted to nine billion euros (about Dh41.84 billion). In the course of 2005, the value of exports of this product group went up by nearly one-third from the previous year.
Scientific instruments
Scientific instruments were also exported to a value approaching one billion euros (about Dh4.65 billion). Measured by value (45 million euros or about Dh209 million), the third largest group of export goods was computers and office machinery, where the growth of exports, approaching 50 per cent, was also strongest among the large product groups.
As with exports, electronics and telecommunications equipment was also the largest group of imported products with its value of 3.8 billion euros (about Dh17.67 billion) and share of imports exceeding more than one-half. Computers and office machinery were imported to the value of 1.4 billion euros (about Dh6.5 billion).
Likewise, both electrical machinery and scientific instruments were major product groups both of which were imported to a value approaching 600 million euros (about Dh2.79 billion). Imports of electronics and telecommunications equipment went up by nearly 1.2 billion euros (about Dh5.58 billion).
By comparison, imports of aerospace products almost doubled, so they showed the fastest growth in relative terms.
The balance in Finland's foreign trade in high technology products has been positive for a decade. In 2005, the surplus exceeded 3.8 billion euros (about Dh17.67 billion), and was nearly one billion euros (about Dh4.65 billion) up on 2004. The export-import ratio remained unchanged at 1.52.
- Source: National Board of Customs; High technology foreign trade, Statistics Finland
