Energy import cost rises by 86% in 2022

Diverse energy products were imported to Finland in 2022 to the value of EUR 18.8 billion, which was 86 per cent more than one year earlier, according to Statistics Finland.

The growth was affected by higher import prices of energy commodities.

The import volumes of energy commodities both rose and fell.

The value of energy exports amounted to EUR 7.8 billion 2022, which was 74 per cent more than one year previously.

Russia's share of the value of imports of energy products was 18 per cent in 2022, while the corresponding share was 52 per cent one year earlier.

Examined by value, the biggest energy products were imports of crude oil (including natural gas condensate) (EUR seven billion). Imports of crude oil totalled 9.8 million tonnes, or 17 per cent more than in the year before.

Imports of electricity in 2022 amounted to 19 TWh, which was 21 per cent less than in the year before.

Electricity exports totalled 6.9 TWh, which was two per cent more than in the year before. Imports of electricity from Russia ended in May 2022.

Altogether 2.5 million tonnes of hard coal were imported in 2022, which was 115 per cent more than in the year before.

In 2022, the import volume of natural gas fell by 52 per cent from the previous year, even though the value of imports of natural gas rose by 48 per cent. Imports of pipeline gas from Russia ceased in May 2022. The import volume of liquefied natural gas grew by eight per cent from the previous year.

The most important energy export products based on the value were motor gasoline (EUR 3 billion) and medium distillates (EUR 2.5 billion).