UPDATE 1-Finland in trade deficit for second year

Thu Feb 7, 2013 3:21am EST

(Recasts with annual deficit, details on Nokia)

HELSINKI Feb 7 (Reuters) - Finland recorded a trade deficit for the second year in a row in 2012 as exports of paper products and electronics such as Nokia phones fell, data showed on Thursday.

The National Customs Board data also showed the chemical industry was now the country's biggest export sector, replacing the technology and forest industries, previously the two pillars of the small Nordic economy.

Nokia has been losing market share in recent years to rivals such as Samsung, and has also been moving production overseas. In November, Finland exported only 16,000 phones, down from 1.1 million devices a year earlier.

The trade deficit for 2012 was 2.3 billion euros ($3.1 billion) as growth in the chemicals industry, led by companies such as refiner Neste Oil and drug maker Orion , failed to compensate for weakness in paper and technology sectors.

Finland booked a trade deficit of 3.7 billion euros in 2011 after recording a surplus for 20 years. ($1 = 0.7387 euros) (Reporting by Jussi Rosendahl. Editing by Jeremy Gaunt.)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.