Source Pravda.Ru

Bank of Finland: Russia will replace Germany as Finland's main trading partner

Russia will overtake Germany as Finland's main trading partner, according to a prediction made yesterday by Pekka Sutela, the director of the Bank of Finland's Institute for Transition Economies. Sutela was speaking at a seminar organised by the Central Bank on the Russian economy. 'It is inevitable, there is no doubt about it, but I don't know when it will happen,' he said.

Sutela based his prediction on the rapid growth of the Russian economy, especially in the St. Petersburg area and in Karelia. 'As consumption grows, the share of imported goods also grows, and the steady strengthening of the rouble in real terms means that Russians' purchasing power is increasing,' he said. 'This market could grow by 20% a year, and if our exports to Russia don't grow at the same rate, we will be unfortunate.'

Last year Germany was the leading importer of Finnish goods. The UK was second on the list, followed by the US. Russia came fifth on the list last year. Finnish exports to Russia include machinery and equipment, chemical products, paper, packaging, and food products. Russian exports to Finland are mainly fuels and raw materials: oil, gas, timber and metals. Russia is the third largest exporter to Finland.

Comments
Boris Yeltsin tried to escape to US Embassy as USSR was falling apart
Terrorists attack police officers in Chechnya in a series of poorly prepared acts
Russia Must Die - The Deep State has Spoken
Oil prices may fall as USA saves record oil reserves
Putin sets Merkel against Trump. She doesn't mind
US-Russian confrontation: War is peace, freedom is slavery
Boris Yeltsin tried to escape to US Embassy as USSR was falling apart
Israel makes final warning to Iran
The ayatollahs now fear the collapse of the Iranian economy
North Korean government warns people of severe famine
Israel makes final warning to Iran
Putin sets Merkel against Trump. She doesn't mind
Ukraine dreams of what it can do to Crimea after winning war with Russia
Russia's five-day war with Georgia: What lies beneath international lies
Boris Yeltsin tried to escape to US Embassy as USSR was falling apart
Boris Yeltsin tried to escape to US Embassy as USSR was falling apart
Boris Yeltsin tried to escape to US Embassy as USSR was falling apart
Russia refuses to build helicopter carriers, but considers aircraft carriers
US-Russian confrontation: War is peace, freedom is slavery
US-Russian confrontation: War is peace, freedom is slavery
Oil prices may fall as USA saves record oil reserves