HELSINKI: In March, Finland recorded strong growth in goods exports. For the first quarter Finnish goods exports came in strong. Demand has bolstered in the euro area and outside the EU. The value of Finnish goods exports were up 17 percent in March and in the first quarter on a year-on-year basis. The seasonally adjusted first quarter growth is estimated to be one of the strongest export quarters since the end of 2010, noted Nordea Bank.
The release from the Customs implies that, unlike January, data for March was not stimulated by any single extraordinary item. Rather, it seems that export growth was quite widespread with robust support from electro-technical products, steel and refined oil products. Geographically, exports to the euro area and outside the EU were strong. The latter was stimulated by China and the U.S.
Prices of export were up 5 percent in the first quarter on a year-on-year basis. This is a huge change from the year ago when prices dropped 4 percent. Thus, prices had a major role to play here. Even so, the volumes of export have grown significantly too. Volume growth is roughly estimated to have come in at about 11 percent, stated Nordea Bank. This is quite a sign of a stronger economic growth going forward, added Nordea Bank.
