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2022
Flag → Flag
Exports $650MRnk 81 / 217
2022
Flag → Flag
Top Product $72.3MPackaged Medicaments
2022
Flag → Flag
Exports $1.39BRnk 18 / 207
2022
Flag → Flag
Top Product $442MNitrogenous Fertilizers
2022
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 133
2022
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Economic Complexity (ECI) ECI 1.41Rnk 13 / 133
2022
Flag  
GDP$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
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GDP GROWTH85.2%CURRENT US$
Rnk 24 / 186
2022
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 GDP$281BCURRENT US$
Rnk 47 / 186
2012-2022
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GDP GROWTH8.73%CURRENT US$
Rnk 147 / 186
2022
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GDP PC $2,389CURRENT US$
Rnk 140 / 186
2012-2022
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GDP PC GROWTH66.6%CURRENT US$
Rnk 20 / 186
2022
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GDP PC$50,537CURRENT US$
Rnk 18 / 186
2012-2022
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GDP PC GROWTH5.93%CURRENT US$
Rnk 127 / 186

About

India-Finland Trade: In 2022, India exported $650M to Finland. The main products that India exported to Finland were Packaged Medicaments ($72.3M), Electric Motor Parts ($67.6M), and Other Engines ($66.6M). Over the past 5 years the exports of India to Finland have increased at an annualized rate of 11.2%, from $382M in 2017 to $650M in 2022.

In 2022, India did not export any services to Finland.

Finland-India Trade: In 2022, Finland exported $1.39B to India. The main products that Finland exported to India were Nitrogenous Fertilizers ($442M), Integrated Circuits ($186M), and Acyclic Alcohols ($68.7M). Over the past 5 years the exports of Finland to India have increased at an annualized rate of 15.7%,  from $671M in 2017 to $1.39B in 2022.

In 2020, Finland exported services to India worth $458M, with Computer and information services ($267M), Royalties and license fees ($120M), and Other business services ($51.4M) being the largest in terms of value.

Comparison: In 2022,  India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.41), and 46 in total exports ($89.9B).

Latest Trends

August, 2024

About

Overview In August 2024, India exported $32.1M and imported $105M from Finland, resulting in a negative trade balance of $73.3M. Between August 2023 and August 2024 the exports of India have decreased by $-9.4M (-22.6%) from $41.5M to $32.1M, while imports increased by $43.8M (71%) from $61.6M to $105M.

Trade In August 2024, the top exports of India to Finland were Electric Machinery And Equipme ($11.5M), Drug Formulations, Biologicals ($8.07M), Products Of Iron And Steel ($2.75M), Iron And Steel ($2.19M), and Leather Footwear Component ($2.03M). In August 2024 the top imports of India from Finland were Fertilezers Manufactured ($97.9M), Electronics Components ($44.2M), Electric Machinery And Equipme ($10.6M), Paper, Paper Board And Product ($9.22M), and Electronics Instruments ($7.99M).

Growth In August 2024, the decrease in India's year-by-year exports to Finland was explained primarily by an decrease in product exports in Indl. Machnry For Dairy Etc ($-1.15M or -76.2%), Carpet(Excl. Silk) Handmade ($-602k or -84.2%), and Products Of Iron And Steel ($-555k or -16.8%). In August 2024, the increase in India's year-by-year imports  from Finland was explained primarily by an increase in product imports  in Fertilezers Manufactured ($48.5M or 98.4%), Electronics Components ($26.3M or 147%), and Motor Vehicle/Cars ($3.74M or 173%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (August 2023 - August 2024)$-9.4M(-22.6%)
IMPORT GROWTH (August 2023 - August 2024)$43.8M(71%)

This section shows exports and imports data at subnational level for India. Click any date in the line plot or any product to explore the exports or imports behavior of India over time.

To check Finland and India trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Finland and India Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, India exported $650M to Finland. The main products exported from India to Finland were Packaged Medicaments ($72.3M), Electric Motor Parts ($67.6M), and Other Engines ($66.6M). During the last 5 years the exports of India to Finland have increased at an annualized rate of 11.2%, from $382M in 2017 to $650M in 2022.

In 2017, Finland exported $1.39B to India. The main products exported from Finland to India were Nitrogenous Fertilizers ($442M), Integrated Circuits ($186M), and Acyclic Alcohols ($68.7M). During the last 5 years the exports of Finland to India have increased at an annualized rate of 15.7%, from $671M in 2022 to $1.39B in 2017.

Exports from India (Flag) to Finland (Flag) (2022)

Exports from Finland (Flag) to India (Flag) (2022)

Market Competitiveness

Color
India
Top DestinationUnited States$82.9B
Finland
Top DestinationGermany$9.99B

This map shows whether countries import more from India or Finland. Each country is colored based on the difference in imports they receive from India and Finland or the difference in the growth in imports.

In 2022, countries that imported more from India than Finland included United States ($82.9B), United Arab Emirates ($31.6B), and Bangladesh ($13.8B).

In 2022, countries that imported more from Finland than India included Sweden ($9.1B), Estonia ($3.58B), and Norway ($2.35B).

Difference in imports from Finland (Flag) and India (Flag) (2022)

Comparative Advantage India - Finland

Flow
Scale

This chart compares trade between India and Finland by product, considering products traded by both, India and Finland.

During 2022, India had a large net trade with Finland in the exports of Machines ($221M), Chemical Products ($122M), and Metals ($77.7M).

During 2017, Finland had a large net trade with India in the exports of Chemical Products ($566M), Machines ($441M), and Metals ($100M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Finland+$66.6MRefined Petroleum
Top Product Potential Finland India+$27.3MIntegrated Circuits

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2020, Finland exported services to India worth $458M, with Computer and information services ($267M), Royalties and license fees ($120M), and Other business services ($51.4M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Finland (Flag) to India (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of India and Finland. This means that a dot/product with the flag of India indicates it has a comparative advantage over Finland. Similarly, a dot/product with the flag of Finland indicates it has a comparative advantage over India.

Product Space of India (Flag) and Finland (Flag) (2022)

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