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Outlook for Finnish exports becoming brighter

Outlook for Finnish exports becoming brighter

HELSINKI: Finland’s export-oriented industries have reason for cautious optimism, although export forecasts have recently failed year after year with the national economy being been affected by shocks and eroding competitiveness, reports Kauppalehti. “The growth outlook for the world economy is slightly brighter than before,” says Markku Lehmus, a researcher at the Research Institute of the Finnish Economy (Etla). Lehmus estimates that the brighter outlook for the world economy is a reason to upgrade export forecasts also in Finland – “not by much but raise nevertheless.” Etla, he reveals, could raise its export forecast for the ongoing year to three per cent, representing an improvement of a few-tenths of a percentage point from its previous forecast.

The Pellervo Economic Research Institute (PTT), meanwhile, is ready to uphold its three per cent export forecast for 2017, according to the commerce-oriented newspaper. “At least it doesn’t have to be lowered,” commented Janne Huovari, an economist at PTT. The Labour Institute for Economic Research (PT) predicted in the latter half of last year that Finnish exports would increase by 3.3 per cent year-on-year in 2017. “We’ve got no reason to revise the export forecast significantly,” stated Eero Lehto, the chief of forecasting at PT.