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Home BUSINESSHealth tech replaces telecom as biggest exporter
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Wed, 07 May, 2014 12:06:54 AM
FTimes-STT Report, May 7
File picture of dental health care technology. Photo – Lehtikuva.
Health technology has replaced telecommunication as the biggest high-tech exporting sector.
Health technology exports now account for more than half of the total high-tech export of Finland as Nokia exports have slumped.
Finnish technology exports have continued to grow steadily after posting a record growth rate of 23 per cent in 2012. Last year’s export exceeded the previous year’s figure by reaching 1.7 billion euros and achieving a trade surplus of 750 million euros.
“Few sectors can sustain such a continuous growth,” observed Veli Mäkelä, Chairman of the Finnish Medtech Manufacturers’ Organisation (FIHTA).
The sector has grown by an average of 6.3 per cent since 2008, when the global financial crisis set in.
The growth has been spurred by markets in Asia as well as in Russia. The United States and Japan have continued to boost the trade as they have maintained their position in the market. Exports to Russia, however, have declined by 27 per cent since last year. 
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