Finland Times

Tuesday, 29 November, 2022
Home BUSINESSService trade, int’l output generate EUR 4 billion
Sun, 08 Jun, 2014 12:03:55 AM
FTimes Report, June 8
Imports, exports and surplus of international trade in services 2013, mill. Euro. Source: Statistics Finland.
The surplus from international trade in services and the sales margin of goods manufactured abroad generated profits of nearly EUR 4 billion for Finland in 2013.
The data of the Statistics Finland showed that the value of service exports totalled EUR 12.6 billion in 2013 and service imports amounted to EUR 11.5 billion, so foreign trade in services was EUR 1.1 billion in surplus.
In addition to foreign trade in services, EUR 2.7 billion was generated in income from the sale of goods manufactured abroad.
A majority of the value added from goods manufactured abroad are not generated in the manufacturing process but comes from intellectual property like trademarks, models, copyrights and patents.
Therefore, the income is also recorded in the home country of enterprises that operate internationally. In service exports, the share of income from intellectual property is also high.
Most income was generated from computer and information services, user licenses of results from R&D activity, as well as construction and project deliveries that cover more than half of service exports.
The main service items in imports of services were research and development services, and computer and information services. Service imports were, however, more dispersed when viewed by service item than exports were.
The surplus was depressed most by research and development services and business and management consulting services.
In 2013, the main trade partners in foreign trade in services for both exports and imports were Sweden, the United States and Germany.
Foreign trade in services was in deficit to all of these countries, as well as to the area of the European Union. The surplus in foreign trade in services was mainly generated in Asia and in European countries outside the European Union.
Around a half of service exports were directed at countries within the European Union. In service imports, the share of the European Union was nearly two-third.
Significant targets were also found in Asia and America but foreign trade in services with countries in Africa and Oceania is minor.
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