The Effects of Sanctions in the Trade between Finland and Russia

In the graphs are presented various Standard International Trade Classification (SITC) classification of product categories indexed to the development of Finland's total exports and imports as well as exports to Russia and the omports from there. Although the monthly fluctuations in the different product groups may be quite large, one the size of imports and exports, the review allows for better conclusion-making conditions, the use of which the euro-denominated figures would give .

Monthly customs statistics published by the Finnish Customs, monthly, so that the last available month of data are two months behind. For example, at the end of March 2016 was published the foreign trade data of January 2016.

The trend of the trade between Finland and Russia has been downward since the beginning of the sanctions. For the year 2016 the first few months that about half of the exports and imports is clipped compared to the time before the sanctions. Part of this decrease is due to the sanctions, part of the world market prices decline of from Russia imported raw materials and energy. Trade between Finland and Russia has for years been badly for Finland in deficit.



Development in different countries

USA

Somewhat surprisingly, Finland's exports to Russia have fallen more dramatically than what the USA has reduced its exports to Russia. USA has been the leading force in initiating, maintaining and re-enforcing these sanctions. In 2013 Russia-oriented exports represented 0.7 percent of the USA's total exports, representing the USA in monetary terms of a percentage equally important as for Finland is Finland's export to Lithuania. In 2013, exports to Russia accounted for 9.6 per cent of Finland's exports and Russia was Finland's most important foreign trade partner.



Canada





Turkey





France





Ukraine





United Kingdom





Germany


Export Finland and Germany to Russia has evolved over the sanction period, particularly during 2015. at the same pace. About 40 percent of the value of exports is clipped compared to the time before the sanctions.




Netherlands





Czech Republic





Norway





Sweden