Finland2019 Economic Complexity: 1.58, Rank 11 of 157
2019 Product Exports | Imports: $74.6B | $71.9B, 43 of 225 | 44 of 225
2019 Per Capita Product Exports | Imports: $13.5k | $13k, 25 of 219 | 35 of 219
2017 Service Exports | Imports : $26.6B | $27B, 34 of 139 | 33 of 139
Overview: In 2019 Finland was the number 43 economy in the world in terms of GDP (current US$), the number 43 in total exports, the number 44 in total imports, the number 16 economy in terms of GDP per capita (current US$) and the number 11 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Finland are Refined Petroleum ($5.98B), Kaolin Coated Paper ($4.65B), Cars ($4.16B), Large Flat-Rolled Stainless Steel ($2.53B), and Sulfate Chemical Woodpulp ($2.5B), exporting mostly to Germany ($10.4B), Sweden ($7.24B), United States ($6.14B), Netherlands ($4.48B), and China ($4.1B).
In 2019, Finland was the world's biggest exporter of Kaolin Coated Paper ($4.65B) and Vegetable Parchment ($361M)
Imports: The top imports of Finland are Crude Petroleum ($5.38B), Cars ($3.34B), Refined Petroleum ($2.95B), Vehicle Parts ($1.69B), and Broadcasting Equipment ($1.47B), importing mostly from Germany ($11.7B), Sweden ($10B), Russia ($9.5B), China ($4.43B), and Netherlands ($4.32B).
In 2019, Finland was the world's biggest importer of Tall Oil ($76.4M)
Location: Finland borders Norway, Russia, and Sweden by land and Estonia by sea.
Top Export (2019): Refined Petroleum, $5.98B
Top Destination (2019): Germany, $10.4B
In 2019, Finland exported a total of $74.6B, making it the number 43 exporter in the world. During the last five reported years the exports of Finland have changed by -$2.13B from $76.7B in 2014 to $74.6B in 2019.
The most recent exports are led by Refined Petroleum ($5.98B), Kaolin Coated Paper ($4.65B), Cars ($4.16B), Large Flat-Rolled Stainless Steel ($2.53B), and Sulfate Chemical Woodpulp ($2.5B). The most common destination for the exports of Finland are Germany ($10.4B), Sweden ($7.24B), United States ($6.14B), Netherlands ($4.48B), and China ($4.1B).
Top Import (2019): Crude Petroleum, $5.38B
Top Origin (2019): Germany, $11.7B
In 2019 Finland imported $71.9B, making it the number 44 trade destination in the world. During the last five reported years the imports of Finland changed by -$5.5B from $77.4B in 2014 to $71.9B in 2019.
The most recent imports of Finland are led by Crude Petroleum ($5.38B), Cars ($3.34B), Refined Petroleum ($2.95B), Vehicle Parts ($1.69B), and Broadcasting Equipment ($1.47B). The most common import partners for Finland are Germany ($11.7B), Sweden ($10B), Russia ($9.5B), China ($4.43B), and Netherlands ($4.32B).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
Finland Exports Services (2017): $26.6B
Finland Imports Services (2017): $27B
In 2017, Finland exported $26.6B worth of services. The top services exported by Finland in 2017 were Computer and information services ($7.92B), Miscellaneous business, professional, and technical services ($4.8B), Transportation ($4.22B), Royalties and license fees ($3.42B), and Travel ($2.98B).
The top services imported by Finland in 2017 were Miscellaneous business, professional, and technical services ($7.44B), Transportation ($5.94B), Travel ($5.58B), Computer and information services ($3.52B), and Construction services ($2.02B).
The top product import tariffs by their MFN Ad Valorem value for Finland are Sugar beet (178%) and Whey (173%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Finland are:
During the last 20 years Finland's economy has become relatively less complex, moving from the 7th to the 11th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Finland has a high level of specialization in Cobalt Oxides and Hydroxides (69.4), Vegetable Parchment (42.4), Kaolin Coated Paper (41.5), Raw Furskins (40), and Papermaking Machines (39.4). Specialization is measured using RCA, an index that takes the ratio between Finland observed and expected exports in each product.
The highest complexity exports of Finland according to the product complexity index (PCI) are Chemical element/compound wafers doped for electronics (2.18), Machines nes having individual functions (2.05), Cermets and articles thereof, waste or scrap (1.93), Measuring or checking instruments nes (1.93), and Equipment using X-rays, alpha, beta, gamma rays (1.84). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Finland according to the relatedness index, are Cobalt Ore (0.28), Uranium and Thorium Ore (0.27), Zirconium (0.26), Wood Pulp Lyes (0.26), and Harvesting Machinery (0.26). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Finland is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
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