United States (USA) and Finland (FIN) Trade

2022

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Exports $1.65BRnk 54 / 219

2022

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About

United States-Finland Trade: In 2022, United States exported $1.65B to Finland. The main products that United States exported to Finland were Crude Petroleum ($367M), Coal Briquettes ($314M), and Petroleum Gas ($304M). Over the past 5 years the exports of United States to Finland have decreased at an annualized rate of 1.52%, from $1.78B in 2017 to $1.65B in 2022.

In 2017, United States exported services to Finland worth $2.31B, with Other business services ($755M), Royalties and license fees ($482M), and Travel ($444M) being the largest in terms of value.

Finland-United States Trade: In 2022, Finland exported $5.33B to United States. The main products that Finland exported to United States were Refined Petroleum ($1.28B), Passenger and Cargo Ships ($1.04B), and Kaolin Coated Paper ($890M). Over the past 5 years the exports of Finland to United States have increased at an annualized rate of 14.3%, from $2.74B in 2017 to $5.33B in 2022.

In 2020, Finland exported services to United States worth $4.86B, with Computer and information services ($3.39B), Royalties and license fees ($841M), and Other business services ($505M) being the largest in terms of value.

Comparison: In 2022, United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.41), and 46 in total exports ($89.9B).

Company data: In 2023, leading companies such as UPM-Kymmene (6.03k), ABB Motors and Mechanical (744), and Konecranes (218) were at the forefront of exporting goods from Finland to the United States. Conversely, Upm Sales Oy (5.95k), Abb Oy Drives (238), and Other (209) were notable for importing products to Finland from the United States.

Latest Trends

April, 2024

About

Overview In April 2024, United States exported $217M and imported $456M from Finland, resulting in a negative trade balance of $239M. Between April 2023 and April 2024 the exports of United States have decreased by $-62.5M (-22.4%) from $279M to $217M, while imports decreased by $-111M (-19.5%) from $567M to $456M.

Trade In April 2024, the top exports of United States to Finland were Crude Petroleum ($63.4M), Aircraft Parts ($44.9M), Commodities not elsewhere specified ($11.7M), Acyclic Hydrocarbons ($5.68M), and Oscilloscopes ($4.86M). In April 2024 the top imports of United States from Finland were Refined Petroleum ($111M), Kaolin Coated Paper ($50.9M), Papermaking Machines ($42.8M), Special Pharmaceuticals ($32.8M), and Cars ($29.7M).

Origins In April 2024 the exports of United States were mainly from Texas ($57.9M), Louisiana ($33.7M), Wisconsin ($14.2M), California ($11.9M), and Tennessee ($10.2M), while imports destinations were mainly Pennsylvania ($126M), Texas ($35.3M), Illinois ($33.3M), Georgia ($24M), and Kentucky ($23.6M).

Growth In April 2024, the decrease in United States's year-by-year exports to Finland was explained primarily by an decrease in product exports in Refined Petroleum ($-8.55M or -98.2%), Kaolin ($-3.17M or -70.1%), and Telephones ($-2.06M or -30.8%). In April 2024, the decrease in United States's year-by-year imports from Finland was explained primarily by an decrease in product imports in Cars ($-115M or -79.5%), Packaged Medicaments ($-27.8M or -88.5%), and Kraft Paper ($-10.2M or -81.9%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (April 2023 - April 2024)$-62.5M(-22.4%)

IMPORT GROWTH (April 2023 - April 2024)$-111M(-19.5%)

MAIN EXPORTER (April 2024)Texas$57.9M

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

To check Finland and United States 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 2022, United States exported $1.65B to Finland. The main products exported from United States to Finland were Crude Petroleum ($367M), Coal Briquettes ($314M), and Petroleum Gas ($304M). During the last 5 years the exports of United States to Finland have decreased at an annualized rate of 1.52%, from $1.78B in 2017 to $1.65B in 2022.

In 2017, Finland exported $5.33B to United States. The main products exported from Finland to United States were Refined Petroleum ($1.28B), Passenger and Cargo Ships ($1.04B), and Kaolin Coated Paper ($890M). During the last 22 years the exports of Finland to United States have increased at an annualized rate of 14.3%, from $2.74B in 1995 to $5.33B in 2017.

Exports from United States () to Finland () (2022)

Exports from Finland () to United States () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$308B

Finland
Top DestinationGermany$9.99B

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

In 2022, countries that imported more from United States than Finland included Canada ($308B), Mexico ($294B), and China ($151B).

In 2022, countries that imported more from Finland than United States included Estonia ($3.58B), Sweden ($9.1B), and Latvia ($903M).

Difference in imports from Finland () and United States () (2022)

Comparative Advantage United States - Finland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United States had a large net trade with Finland in the exports of Mineral Products ($1.26B), Chemical Products ($636M), and Machines ($626M).

During 2017, Finland had a large net trade with United States in the exports of Machines ($1.66B), Transportation ($1.37B), and Paper Goods ($1.34B).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United States Finland+$181MCrude Petroleum

Top Product Potential Finland United States+$331MCars

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

Usa Year

In 2017, United States exported services to Finland worth $2.31B, with Other business services ($755M), Royalties and license fees ($482M), and Travel ($444M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United States () to Finland () (2017)

Services Exports from Finland () to United States () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of United States () and Finland () (2022)

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