Finnish exports to China outperform Finnish exports generally

The value of goods exports to China in the first nine months of this year matched their 2015 performance, while Finnish exports overall were down about 5 %. Goods imports from China, like good imports generally, were at about the same level as in 2015. Exports to China of timber (up 56 % y-o-y) and paper pulp (up 12 %) increased, while fur exports declined (down 59 %). In January-September, 30 % of Finland’s pulp exports and 43 % of fur exports went to China. Nickel exports to China increased by nearly 20 times from the previous year, and represented 1 % of the value of total exports to China. There was little change in the structure of imports. Finland mostly imports machinery and equipment (about half of imports from China), as well as clothing and footwear (16 % of imports). China accounted for 5 % of Finnish goods exports and 7 % of imports.

Finnish services exports to China rose to 11 % in the first half of 2016, while the total services exports held at the 2015 level. Services exports to China on-year amounted to nearly €1 billion, or about 40 % of the value of total goods exports to China and 4 % of Finland’s total services exports. The value of services imports from China exceeded €800 million, or roughly 4 % of Finland’s total services imports.

In the first nine months of the year, the number of overnight stays of Chinese travellers in Finnish hotels increased 20 % y-o-y, but still only represented about 4 % of all overnight stays of foreign visitors. Overnight stays of foreign visitors overall increased by 2 %. Figures from international tax-free shopping specialist Global Blue show that Chinese travellers accounted for 31 % of Finnish tax-free sales in the first nine months of this year, and were second only to Russians.