Finland's exports to China up 69 pct in Q2, 2020

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HELSINKI, Sept. 18 (Xinhua) -- Finland's trade with China grew remarkably in the second quarter (Q2) of 2020, while the general trend in the country's foreign trade statistics showed a major year-on-year decline, Statistics Finland said in a press release on Friday.

Finland's exports to China soared by as much as 69 percent to 1.1 billion euros (1.3 billion U.S. dollars) in Q2, 2020. Imports from China also rose by 12 percent to 1.6 billion euros.

The main driver was trade in goods as services exports and imports have both decreased slightly, Statistics Finland explained.

Between April and June 2020, Finland's foreign trade dropped in both goods and services. Service exports decreased by 28 percent and service imports fell 22 percent from one year earlier. The decline was the smallest in goods exports, down 12 percent. Goods imports were 20 percent below the corresponding period of 2019.

Compared with the same period last year, the value of Finland's services and goods exports decreased by over 4 billion euros. In the second quarter of 2019, goods worth 15.8 billion euros and services worth 7.9 billion euros were exported by Finland. However, in the second quarter of 2020, the respective figures were 13.8 billion euros and 5.7 billion euros.

According to the statistics agency, Finland's service exports did not grow significantly in any category.

Of the main industries, trade in travel and transport services declined the most in Q2. Travel to Finland, which is recorded as travel exports, plunged by 87 percent, and travel from abroad, or imports of travel, dropped by 93 percent year-on-year.

Under the shadow of the COVID-19 pandemic, Finland's international trade with most of its partners remained sluggish in Q2, 2020, the agency said.

The value of Finland's exports to Europe contracted by 3.3 billion euros from the respective quarter of the previous year, accounting for 79 percent of the total decrease in exports. Exports to the United States declined by 0.7 billion euros. (1 euro = 1.19 U.S. dollar) Enditem

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