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Growth in international trade slowed down from the early part of the year in the last quarter of 2022

release 15/03/2023 | International trade in goods and services 2022, 4th quarter

According to Statistics Finland, the value of service exports was EUR 9.6 billion in the last quarter of 2022 and grew by two per cent compared to the corresponding period of the previous year. The value of service imports was EUR 10.7 billion and grew by 15 per cent. Both exports and imports of services were at the highest level in their measuring history. Service exports grew extensively, but the growth remained relatively small due to exports of ICT services. Around one-half of the growth in service imports was explained by the recovery of travel imports, that is, Finnish residents' travel abroad.

The figure describes fluctuations in the level of exports and imports of services between 2013Q1 and 2022Q4 as a line chart. In the last quarter of 2022, the value of service exports was EUR 9.6 billion and that of service imports EUR 10.7 billion. In the last quarter of 2022, imports of international trade were EUR 1.4 billion higher and exports EUR 0.2 billion higher than one year ago. In the last quarters of 2020 and 2021, exports and imports of services grew sharply. The value of exports was higher in the last quarters than that of imports. In 2022, the peak in exports was considerably gentler and imports were EUR 1.1 billion higher than exports. Exports of services grew by EUR 1.7 billion and imports by EUR 1.1 billion compared to the third quarter of 2022.

Key points

In the last quarter of 2022, exports of goods and services grew by EUR 2.6 billion (9 %) and imports by EUR 3.6 billion (12 %) compared to one year ago.
Exports of services were EUR 0.2 billion (2 %) and imports of services were EUR 1.4 billion (15 %) higher than one year ago.
The biggest change in service exports in the quarter was a EUR 0.9 billion decrease in ICT services from one year back. An extensive rise was seen in exports of other service items.
In service imports, growth was biggest in travel (EUR 0.7 billion) and transport services (EUR 0.3 billion).
The service account remained exceptionally in deficit. In the last quarter, the deficit was EUR 1.2 billion.

Statistics used in the release

International trade in goods and services

Figures

See key statistical data in the figures.

15.03.2023

Exports and imports of goods and services by service item 2013Q1-2022Q4

15.03.2023

Exports and imports of goods and services by region 2013Q1-2022Q4

Tables

See key statistical data in the tables.

15.03.2023

International trade in goods and services by region 2019Q4-2022Q4

	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4
Other countries excl. EU(27, 2020-)	12,121	10,322	9,501	9,464	12,739	10,114	11,166	11,819	14,378	11,942	13,695	14,207	15,964
Euro area	8,822	7,302	6,380	6,628	7,536	7,052	7,555	8,375	10,255	9,255	10,508	10,356	10,757
Europe	17,066	14,689	13,037	13,413	15,148	14,265	15,593	16,763	19,807	18,329	20,514	19,730	20,454
Africa	606	410	461	428	557	448	577	584	628	583	585	625	771
America	3,197	2,703	2,549	2,554	5,174	3,025	2,976	3,704	5,300	3,825	4,810	4,951	6,347
Asia	4,043	3,319	3,156	2,998	3,273	3,155	3,606	3,448	3,896	3,426	3,904	4,567	4,582
Netherlands	1,259	1,338	1,110	1,123	1,187	1,215	1,272	1,459	1,719	1,810	2,057	2,094	1,998
China	1,330	1,041	1,134	947	1,221	1,183	1,311	1,186	1,286	1,134	1,365	1,459	1,721
Sweden	3,015	2,576	2,461	2,451	2,901	2,732	2,946	3,139	3,729	3,636	4,191	3,890	3,894
Germany	2,076	1,838	1,652	1,769	1,969	1,832	1,902	1,904	2,201	2,075	2,336	2,327	2,285
Russian Federation	1,196	1,050	824	885	1,006	978	1,189	1,137	1,224	988	648	439	585
United Kingdom	1,198	1,078	756	891	1,063	877	1,050	1,172	1,253	1,128	1,449	1,272	1,166
United States	2,358	1,952	1,712	1,795	4,335	2,281	2,062	2,894	4,276	3,006	3,628	3,982	5,295
Foreign countries, total	25,310	21,468	19,524	19,717	24,475	21,190	23,083	24,841	30,001	26,573	30,256	30,305	32,585

15.03.2023

International trade in goods and services by service item 2019Q4-2022Q4

	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4
GS Goods and services	25,310	21,468	19,524	19,717	24,475	21,190	23,083	24,841	30,001	26,573	30,256	30,305	32,585
G Goods	17,123	14,594	13,793	13,996	16,575	15,097	16,596	17,983	20,561	19,435	22,657	22,369	22,975
S Services	8,187	6,874	5,730	5,721	7,900	6,093	6,488	6,857	9,440	7,138	7,599	7,936	9,610
SA Manufacturing services on physical inputs owned by others	467	400	354	391	518	514	525	382	528	448	504	472	545
SB Maintenance and repair services not included elsewhere	151	100	142	92	104	82	101	90	119	100	146	120	162
SC Transport	1,124	892	560	601	607	628	725	814	1,022	994	1,191	1,355	1,214
SD Travel	769	729	54	199	125	82	96	297	451	438	410	714	574
SE Construction	78	35	26	18	27	24	19	17	20	11	13	data subject to secrecy	24
SF Insurance and pension services	14	14	14	14	14	12	12	12	12	12	12	data subject to secrecy	12
SG Financial services	97	80	82	74	82	99	101	108	105	81	79	80	221
SH Charges for the use of intellectual property n.i.e.	778	627	620	613	746	652	758	701	784	626	688	706	1,112
SI Telecommunications, computer and information services	2,984	2,447	2,460	2,467	3,945	2,603	2,583	3,000	4,473	2,761	2,811	2,596	3,545
SJ Other business services	1,656	1,492	1,355	1,188	1,648	1,339	1,510	1,377	1,858	1,616	1,688	1,803	2,147
SJ1 Research and development services	224	270	216	174	216	173	185	176	221	230	224	466	321
SJ2 Professional and management consulting services	514	375	343	315	479	403	418	387	586	503	520	479	694
SJ3 Technical, trade-related, and other business services	918	848	795	699	952	763	907	813	1,051	883	944	859	1,132
SK Personal, cultural and recreational services	38	28	33	33	55	28	29	30	39	23	26	29	23
SL Government goods and services n.i.e	30	29	29	30	30	29	29	30	30	29	29	30	30

Database tables

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Updated database tables

12gq

International trade in goods and services, quarterly(External link)

Classifications used:

Service item
Region

Period:

quarter

Statistics:

International trade in goods and services

Updated:

12/05/2023

12gs

Differences in statistical terms for trade in goods between customs and balance of payments, quarterly (External link)

Classifications used:

Service item

Period:

quarter

Statistics:

International trade in goods and services

Updated:

12/05/2023

12gr

International trade in services by region and service item, annually(External link)

Classifications used:

Service item
Region

Period:

annual

Statistics:

International trade in goods and services

Updated:

15/03/2023

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Background information

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Service email

globalisaatio.tilastot@stat.fi

Joonas Pohja

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	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4
Export, millions of euro	19,202	19,266	19,370	19,839	17,755	19,171	19,068	19,486	18,002	19,142	18,267	19,436	17,876	19,297	18,676	19,868	20,389	21,437	20,922	22,224	21,591	22,544	21,991	23,686	23,333	23,803	23,216	25,310	21,468	19,524	19,717	24,475	21,190	23,083	24,841	30,001	26,573	30,256	30,305	32,585
Import, millions of euro	19,944	19,622	19,901	20,374	18,582	19,944	19,418	19,914	18,896	18,541	18,536	20,075	18,523	19,760	19,193	21,021	20,416	21,462	20,838	22,156	22,165	22,943	22,921	24,712	23,159	24,061	23,665	24,396	22,941	19,658	20,592	21,812	21,778	23,114	24,788	29,212	29,126	32,754	32,347	32,822

	2013Q1	2013Q2	2013Q3	2013Q4	2014Q1	2014Q2	2014Q3	2014Q4	2015Q1	2015Q2	2015Q3	2015Q4	2016Q1	2016Q2	2016Q3	2016Q4	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4
Export, millions of euro	19,202	19,266	19,370	19,839	17,755	19,171	19,068	19,486	18,002	19,142	18,267	19,436	17,876	19,297	18,676	19,868	20,389	21,437	20,922	22,224	21,591	22,544	21,991	23,686	23,333	23,803	23,216	25,310	21,468	19,524	19,717	24,475	21,190	23,083	24,841	30,001	26,573	30,256	30,305	32,585
Import, millions of euro	19,944	19,622	19,901	20,374	18,582	19,944	19,418	19,914	18,896	18,541	18,536	20,075	18,523	19,760	19,193	21,021	20,416	21,462	20,838	22,156	22,165	22,943	22,921	24,712	23,159	24,061	23,665	24,396	22,941	19,658	20,592	21,812	21,778	23,114	24,788	29,212	29,126	32,754	32,347	32,822