Bloomberg News

Finland Risks Slow Growth as Competitiveness Falls, Report Shows

May 03, 2012

Finland is facing a period of slowing growth as exporters struggle to keep up with global competition, the Federation of Finnish Technology Industries said.

It’s “alarming” that Finland is moving into a trade deficit and shows how the competitiveness of exporters is being eroded in the long term, the Helsinki-based industry group said in a report today.

New orders in the Finnish technology industry fell 7 percent in the first quarter from a year earlier, the organization said. Its members generate more than a half of Finnish sales abroad. Biggest order losses occurred in the electronics industry, where new orders fell an annual 29 percent.

“This is the final moment to turn the ship around,” the organization said.

To contact the reporter on this story: Kasper Viita in Helsinki at kviita1@bloomberg.net

To contact the editor responsible for this story: Tasneem Brogger at tbrogger@bloomberg.net


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