Russia (RUS) and Finland (FIN) Trade

2023

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Exports $1.28BRnk 38 / 137

2023

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About

Russia-Finland Trade: In 2023, Russia exported $1.28B to Finland. The main products that Russia exported to Finland were Nickel Mattes ($1.1B), Petroleum Gas ($68.7M), and Nuclear Reactors ($28.6M). Over the past 5 years the exports of Russia to Finland have decreased at an annualized rate of 34.9%, from $11B in 2018 to $1.28B in 2023.

In 2020, Russia exported services to Finland worth $546M, with Construction services ($157M), Transportation ($157M), and Other business services ($126M) being the largest in terms of value.

Finland-Russia Trade: In 2023, Finland exported $708M to Russia. The main products that Finland exported to Russia were Precipitated Copper ($337M), Other Aluminium Products ($17.8M), and Other Plastic Products ($17.6M). Over the past 5 years the exports of Finland to Russia have decreased at an annualized rate of 28.5%, from $3.78B in 2018 to $708M in 2023.

In 2020, Finland exported services to Russia worth $506M, with Computer and information services ($255M), Other business services ($143M), and Transportation ($66.2M) being the largest in terms of value.

Comparison: In 2023, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $1.05B and imported $258M from Finland, resulting in a positive trade balance of $790M. Between January 2021 and January 2022 the exports of Russia have increased by $613M (141%) from $434M to $1.05B, while imports increased by $67.4M (35.4%) from $190M to $258M.

Trade In January 2022, the top exports of Russia to Finland were Crude Petroleum ($106M), Commodities not elsewhere specified ($60.2M), Refined Petroleum ($58M), Electricity ($43.7M), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($26.8M). In January 2022 the top imports of Russia from Finland were Precipitated Copper ($31.9M), Kaolin Coated Paper ($17.4M), Refined Petroleum ($9.71M), Delivery Trucks ($6.44M), and Stone Processing Machines ($6.24M).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($504M), KHANTY-MANSIYSK AUTONOMOUS AREA ($135M), REPUBLIC OF TATARSTAN ($94.8M), VOLOGDA REGION ($40.2M), and REPUBLIC OF KARELIA ($39.2M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($70.9M), ST. PETERSBURG ($63.7M), MURMANSK REGION ($40.1M), LENINGRAD REGION ($21.3M), and KRASNOYARSK TERRITORY ($12.5M).

Growth In January 2022, the increase in Russia's year-by-year exports to Finland was explained primarily by an increase in product exports in Commodities not elsewhere specified ($26M or 75.7%), Electricity ($21.7M or 98.6%), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($19.5M or 265%). In January 2022, the increase in Russia's year-by-year imports from Finland was explained primarily by an increase in product imports in Precipitated Copper ($28.1M or 741%), Stone Processing Machines ($5.54M or 794%), and Packaged Medicaments ($3.41M or 525%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (January 2021 - January 2022)$613M(141%)

IMPORT GROWTH (January 2021 - January 2022)$67.4M(35.4%)

MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$504M

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

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

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Russia exported $1.28B to Finland. The main products exported from Russia to Finland were Nickel Mattes ($1.1B), Petroleum Gas ($68.7M), and Nuclear Reactors ($28.6M). During the last 5 years the exports of Russia to Finland have decreased at an annualized rate of 34.9%, from $11B in 2018 to $1.28B in 2023.

In 2018, Finland exported $708M to Russia. The main products exported from Finland to Russia were Precipitated Copper ($337M), Other Aluminium Products ($17.8M), and Other Plastic Products ($17.6M). During the last 5 years the exports of Finland to Russia have decreased at an annualized rate of 28.5%, from $3.78B in 2023 to $708M in 2018.

Exports from Russia () to Finland () (2023)

Exports from Finland () to Russia () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$129B

Finland
Top DestinationUnited States$9.68B

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

In 2023, countries that imported more from Russia than Finland included China ($129B), India ($66.1B), and Turkey ($31B).

In 2023, countries that imported more from Finland than Russia included Sweden ($8.13B), Germany ($9.26B), and United States ($9.68B).

Difference in imports from Finland () and Russia () (2023)

Comparative Advantage Russia - Finland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Russia had a large net trade with Finland in the exports of Metals ($1.11B), Mineral Products ($82.9M), and Chemical Products ($32.3M).

During 2018, Finland had a large net trade with Russia in the exports of Metals ($369M), Machines ($122M), and Chemical Products ($53M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Finland+$514MCrude Petroleum

Top Product Potential Finland Russia+$60.2MRefined Petroleum

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

Fin Year

Rus Year

In 2020, Russia exported services to Finland worth $546M, with Construction services ($157M), Transportation ($157M), and Other business services ($126M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Finland () (2020)

Services Exports from Finland () to Russia () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of Russia () and Finland () (2023)

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