United States (USA) and Finland (FIN) Trade

2023

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Exports $4.19BRnk 53 / 220

2023

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About

United States-Finland Trade: In 2023, United States exported $4.19B to Finland. The main products that United States exported to Finland were Crude Petroleum ($754M), Petroleum Gas ($538M), and Acyclic Hydrocarbons ($208M). Over the past 5 years the exports of United States to Finland have increased at an annualized rate of 12.3%, from $2.34B in 2018 to $4.19B in 2023.

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 2023, Finland exported $9.68B to United States. The main products that Finland exported to United States were Passenger and Cargo Ships ($2.05B), Refined Petroleum ($1.15B), and Kaolin Coated Paper ($617M). Over the past 5 years the exports of Finland to United States have increased at an annualized rate of 6.96%, from $6.92B in 2018 to $9.68B in 2023.

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 2023, United States ranked 10 in the Economic Complexity Index (ECI 1.5), and 2 in total exports ($1.86T). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B).

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

November, 2024

About

Overview In November 2024, United States exported $152M and imported $765M from Finland, resulting in a negative trade balance of $613M. Between November 2023 and November 2024 the exports of United States have decreased by $-13.1M (-7.94%) from $165M to $152M, while imports increased by $21.9M (2.95%) from $743M to $765M.

Trade In November 2024, the top exports of United States to Finland were Crude Petroleum ($63.4M), Aircraft parts (gliders, balloons, and powered... ($44.9M), Commodities not elsewhere specified ($11.7M), Acyclic Hydrocarbons ($5.68M), and Oscilloscopes ($4.86M). In November 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 November 2024 the exports of United States were mainly from Wisconsin ($22.1M), Georgia ($20.6M), Texas ($16.4M), Maryland ($10.7M), and Dist of Columbia ($8.09M), while imports destinations were mainly Pennsylvania ($143M), Maryland ($96.4M), Texas ($44.4M), Florida ($40.2M), and Puerto Rico ($38M).

Growth In November 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 November 2024, the increase in United States's year-by-year imports from Finland was explained primarily by an increase in product imports in Refined Petroleum ($51.1M or 86%), Papermaking Machines ($33.2M or 345%), and Kaolin Coated Paper ($19M or 59.4%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)$-13.1M(-7.94%)

IMPORT GROWTH (November 2023 - November 2024)$21.9M(2.95%)

MAIN EXPORTER (November 2024)Wisconsin$22.1M

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 2023, United States exported $4.19B to Finland. The main products exported from United States to Finland were Crude Petroleum ($754M), Petroleum Gas ($538M), and Acyclic Hydrocarbons ($208M). During the last 5 years the exports of United States to Finland have increased at an annualized rate of 12.3%, from $2.34B in 2018 to $4.19B in 2023.

In 2018, Finland exported $9.68B to United States. The main products exported from Finland to United States were Passenger and Cargo Ships ($2.05B), Refined Petroleum ($1.15B), and Kaolin Coated Paper ($617M). During the last 5 years the exports of Finland to United States have increased at an annualized rate of 6.96%, from $6.92B in 2023 to $9.68B in 2018.

Exports from United States () to Finland () (2023)

Exports from Finland () to United States () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$269B

Finland
Top DestinationUnited States$9.68B

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 2023, countries that imported more from United States than Finland included Canada ($269B), Mexico ($243B), and China ($154B).

In 2023, countries that imported more from Finland than United States included Estonia ($2.4B), Sweden ($8.13B), and Latvia ($1.1B).

Difference in imports from Finland () and United States () (2023)

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 2023, United States had a large net trade with Finland in the exports of Mineral Products ($1.64B), Machines ($827M), and Chemical Products ($617M).

During 2018, Finland had a large net trade with United States in the exports of Transportation ($2.34B), Machines ($1.91B), and Chemical Products ($1.43B).

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 () (2023)

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