The
bilateral trade, tourism
After the World War II the Finnish-Soviet economic relations were commenced by reparations
and trade. Already at the end of 1940s export from Finland to the Soviet Union was more
than 20 per cent of the total exports. This bilateral clearing trade was balanced by the
governments. The trade was dominated by large-scale firms. In the Finnish-Soviet trade the
SME sector had mainly the role of subcontractors.The
Bank of Finland and Gosbank signed a clearing agreement and through their accounts these
organizations kept the trade in balance. Excess exports could be balanced only by
increasing imports Finland was mainly able to import raw materials, energy, and oil. The
Finnish-Russian trade was stabilized near to the level of 20 per cent of the total Finnish
foreign trade until the beginning of the 1990s.
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