Published: 29 May 2012
According to Statistics Finland's preliminary data, services were exported to the value of around EUR 15.1 billion in 2011, while the value of service imports was about EUR 11.1 billion. The surplus from international trade in services grew by 5 per cent from 2010, and was around EUR 4.0 billion. The growth of the surplus from 2009 amounted to 20 per cent.
Imports, exports and surplus of foreign trade in services 2002–2011, mill. euro
Compared to 2010, the value of service exports remained unchanged at EUR 15.1 billion in 2011. Imports of services decreased by EUR 0.2 billion to EUR 11.1 billion from the previous year. In 2011, the surplus from international trade in services was around EUR 4.0 billion, which is EUR 0.2 billion more than in the previous year.
The surplus continued to grow particularly in royalty and licence fees, where it amounted to EUR 1.4 billion in 2011. In 2010, the surplus recorded for the same item was EUR 0.8 billion and in 2009 EUR 0.3 billion. In 2011, export revenues from royalty and licence fees amounted to EUR 2.3 billion. The largest surplus of EUR 3.4 billion was again accrued from information technology services from which export revenues totalled EUR 4.9 billion.
The main destination countries of service exports in 2011 were Sweden and the United States. Exports to the United States, Japan and Sweden grew strongly from the previous year. Exports to China and India, in turn, decreased significantly. The most important countries of service imports were Germany, the United States, Sweden and the United Kingdom. Imports from Germany continued to decrease whereas imports from Sweden grew strongly from 2010.
Service exports to the EU15 countries rose to EUR 4.8 billion, which is one-third of all exports of services. The share of the EU15 countries increased by three percentage points from 2010. Imports from the EU15 countries fell to EUR 6.2 billion in 2011. The share of the EU15 countries of all imports of services remained unchanged from 2010 at 56 per cent.
The statistics on international trade in services are based on Statistics Finland's annual and quarterly inquiries on international trade in services. The data include service trade between group enterprises. The statistics do not include data on transport, tourism, insurance and financial services. The data are used in the compilation of national accounts and as part of the balance of payments produced by the Bank of Finland.
Source: Foreign trade in services 2011, Statistics Finland
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