The collapse of trade with Russia has had a limited effect on Finnish manufacturing
Simola, Heli (05.07.2024)
Volyymi
98Numero
3/2024Julkaisija
Bank of Finland
2024
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi-fe2024070560698Tiivistelmä
Finland’s bilateral trade with Russia, as well as the Russia trade of many other European countries, collapsed with the invasion of Ukraine. Over 2,000 Finnish firms exported to Russia in 2019, but that number had fallen to around 100 by the end of 2023. While the withering of trade has had limited effect on most sectors or the Finnish economy as a whole, prices of Russian inputs on which Finnish producers have heavily relied have increased faster. The overall impacts on the Finnish economy are similar to those of other EU countries.
Julkaisuhuomautus
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