Finland Times

The value, according to the Customs estimates, fell by 1.2 billion euros.

The drop in the exports has been attributed to the counter sanction imposed on the EU.

Following the counter sanctions, Finnish food exports to Russia decreased by as much as 78 per cent.

Similarly, exports of other products posted a significant drop. For example, export of petroleum products decreased by 42 per cent, the metal industry exports fell by 29 per cent, and the forestry industry exports dropped by 27 per cent.

Finnish exports to Russia began to slide in the autumn of 2013, and as a result of the decrease in exports, Russia’s share of Finnish exports has fallen by 5.5 per cent.

Russia is Finland’s fifth largest export country in the light of first quarter figures. Finland’s most important export market is Germany.