Exports to Russia collapsed in March 2022, but the value of imports increased by 63%
Value of Finnish exports Imports of goods to Russia collapsed in March 2022 by 42% compared to the same period in 2021, as shown by preliminary statistics on international trade in goods. The value of exports was EUR 184.4 million. The value of Finland’s imports to Russia increased by 63 per cent in March compared to March 2021 due to sharply higher import prices. The value of imports was 1.0 billion euros.
Measured in euros, the most significant decrease (-48.7 MEUR and -64%) occurred in the CN category of machinery and mechanical appliances and parts thereof, for which the EU has imposed most of the export sanctions. Measured as a percentage, a similar decline occurred in the category of electrical equipment and components, which were also subject to a significant number of EU export sanctions.
The value of exports of petroleum products also fell the most, by 79 per cent. Exports decreased in almost all other commodity groups, with the exception of exports of copper stones, which increased by nine per cent from 2021. Copper stones accounted for as much as 29 per cent of Finland’s exports to Russia in March.
The most significant drop in Russian imports was in crude oil. The value of crude oil imports fell by 45 per cent and the volume of crude oil by 70 per cent. Imports of crude oil have been replaced mainly by imports from Norway. The value of other groups of goods imported from Russia did not fall significantly in March. The most significant imports increased in nickel and nickel products. Their value increased by EUR 175.2 million and 456 per cent compared to last year. Import volumes of nickel and nickel products also increased significantly. The value of natural gas imports rose the most; EUR 111.8 million and 282%. The price of natural gas has multiplied since last year. The value of imports of petroleum products increased the most, by EUR 95.6 million and 180 per cent. The volume of imports grew more moderately. The value of electricity imports increased by 257 per cent in March. However, the volume of imports increased by only a third.
– In March, imports from Russia also increased compared to February this year, although imports of crude oil fell significantly. According to preliminary reports from our customs systems, natural gas was imported from Russia in April for EUR 116.4 million and nickel stone for EUR 126.9 million. These are currently the most important imports from Russia. Due to high prices, imports from Russia already exceeded the figures for April 2021 in April this year, says Mr. Olli-Pekka Penttilä, Director of Statistics.
Up-to-date traffic data from the Finnish-Russian border
In weeks 1-9 / 2022, an average of about 22 ships a week arrived in Finland from Russian ports. In weeks 10-16 / 2022, the average dropped to seven vessels. During week 17, six ships arrived in Finland. The export ban on Russian ships that began on 17 April 2022 has had little effect on Finnish imports, as only a few vessels registered in Russia arrived in Finland in early 2022.
The arrivals of train wagons loaded on the Finnish-Russian border in March 2022 decreased by 32% from the corresponding period last year. The number was 13,955 loaded wagons. In April 2022, the number of loaded wagons decreased by 65 per cent from last year and 7,973 loaded wagons arrived in Finland from Russia. Departures of loaded wagons to Russia decreased by 26 per cent in March and by 49 per cent in April. There is no longer any air traffic between Finland and Russia.
The three main border crossing points on the eastern border, Vainikkala, Imatra and Nuijamaa, received an average of 3,175 trucks per week, while in weeks 10-14 there were an average of 2,088 trucks. As of Saturday, April 9, 2022, in week 14, Customs has returned all commercial shipments in vehicles registered in Russia and Belarus.. Based on the figures of the last two weeks, truck traffic on the Finnish-Russian border seems to be falling by 75 per cent from the February figure.
Heavy traffic at Vaalimaa, Nuijamaa and Imatra border crossings, total arrivals and departures per week in 2022, number and change compared to the previous week, per cent |
Exports to Russia January-March 2022, preliminary value and change in March y / y |
Imports from Russia in January-March 2022, preliminary value and change in March compared to the corresponding month of 2021 |
Source: Customs