Somalia (SOM) and Finland (FIN) Trade | The Observatory of Economic Complexity

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Somalia-Finland Trade: In 2022, Somalia exported $686 to Finland. The main products that Somalia exported to Finland were N/A. Over the past 10 years the exports of Somalia to Finland have increased at an annualized rate of 33.2%, from $39 in 2012 to $686 in 2022.

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

Finland-Somalia Trade: In 2022, Finland exported $453k to Somalia. The main products that Finland exported to Somalia were Centrifuges ($134k), Medical Instruments ($55.1k), and Felt or Coated Fabric Garments ($50.8k). Over the past 10 years the exports of Finland to Somalia have increased at an annualized rate of 15.4%, from $222k in 2012 to $453k in 2022.

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

Comparison In 2023, Somalia ranked 161 in total exports ($1.03B), and does not have data regarding Economic Complexity Index. That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Somalia exported $686 to Finland. There were not main exports from Somalia to Finland in 2022. During the last 10 years the exports of Somalia to Finland have increased at an annualized rate of 33.2%, from $39 in 2012 to $686 in 2022.

In 2018, Finland exported $453k to Somalia. The main products exported from Finland to Somalia were Centrifuges ($134k), Medical Instruments ($55.1k), and Felt or Coated Fabric Garments ($50.8k). During the last 5 years the exports of Finland to Somalia have increased at an annualized rate of 15.4%, from $222k in 2023 to $453k in 2018.

Exports from Somalia () to Finland () (2023)

Exports from Finland () to Somalia () (2023)

Latest Data

Trade between Somalia () and Finland ()

Finland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Somalia
Top DestinationUnited Arab Emirates$360M

Finland
Top DestinationUnited States$9.68B

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

In 2023, countries that imported more from Somalia than Finland included Oman ($180M), Djibouti ($84.2M), and Macau ($19.9M).

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

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

Comparative Advantage Somalia - Finland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Somalia had a large net trade with Finland in the exports of .

During 2018, Finland had a large net trade with Somalia in the exports of Machines ($168k), Instruments ($94.4k), and Textiles ($50.8k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Somalia Finland+$2.84kGold

Top Product Potential Finland Somalia+$103kCars

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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Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Somalia () to Finland () (2023)

Exports from Finland () to Somalia () (2023)

Latest Data

Trade between Somalia () and Finland ()

Finland Exports

Market Competitiveness

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

Comparative Advantage Somalia - Finland

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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