Russian trade picks up
FinRuscc The CEO of Finnish Russian Chamber of Commerce, Mirja Tiri.Export, import and trade have increased significantly in the last six months, beating the figures of last winter and the spring. Only investments have decreased. The information was revealed in the latest North-West Russian Business Barometer published by the Finnish-Russian Chamber of Commerce, FRCC.
The growth expectancy of the near future is level-headed both in regards to the Finnish operations and to the development of Russian economy. However, the expectations for the second half of 2010 are much higher and Finnish companies trading with Russia expect notable growth.
Small companies are expected to succeed better than big ones. Also, the trade and service sectors have much brighter future prospects than for instance industry.
A third of the barometer participants indicated that their exports to Russia had increased. Most growth took place within the service sector, but also industry and companies within the trade sector experienced remarkable improvements.
Imports from Russia had increased for 35 per cent of the participants. At the same time however, up to 25 per cent of the companies had to decrease their Russian imports. The most evident growth took place in the importing of services while the biggest contraction took place within the industry.
More then half of the participants expect trade to develop significantly (4 %), or somewhat (51%) during the next six months. Up to 74 per cent of the participants expect growth of export trade next year, out of whom 11 per cent expect significant growth and 63 per cent some degree of growth.
The barometer, which was carried out in October, was participated by over 300 companies.
