Canada (CAN) and Finland (FIN) Trade

2022

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Exports $590MRnk 39 / 215

2022

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About

Canada-Finland Trade: In 2022, Canada exported $590M to Finland. The main products that Canada exported to Finland were Nickel Ore ($173M), Copper Ore ($109M), and Coal Briquettes ($54.6M). Over the past 5 years the exports of Canada to Finland have increased at an annualized rate of 2.4%, from $524M in 2017 to $590M in 2022.

In 2020, Canada exported services to Finland worth $38M, with Transportation ($11.9M), Royalties and license fees ($11.2M), and Travel ($8.95M) being the largest in terms of value.

Finland-Canada Trade: In 2022, Finland exported $1.17B to Canada. The main products that Finland exported to Canada were Nickel Mattes ($121M), Other Construction Vehicles ($93M), and Cars ($86.7M). Over the past 5 years the exports of Finland to Canada have increased at an annualized rate of 9.54%, from $742M in 2017 to $1.17B in 2022.

In 2020, Finland exported services to Canada worth $147M, with Computer and information services ($86.8M), Royalties and license fees ($26.3M), and Other business services ($25.1M) being the largest in terms of value.

Comparison: In 2022, Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.41), and 46 in total exports ($89.9B).

Latest Trends

September, 2024

About

Overview In September 2024, Canada exported C$84.1M and imported C$115M from Finland, resulting in a negative trade balance of C$30.7M. Between September 2023 and September 2024 the exports of Canada have increased by C$66.5M (378%) from C$17.6M to C$84.1M, while imports decreased by C$-5.36M (-4.46%) from C$120M to C$115M.

Trade In September 2024, the top exports of Canada to Finland were Precious Metal Ore (C$4.27M), Gas Turbines (C$2.18M), Telephones (C$954k), Motor vehicles; parts and accessories (8701... (C$681k), and Other Printed Material (C$325k). In September 2024 the top imports of Canada from Finland were Nickel Mattes (C$29.9M), Cars (C$20.3M), Other Construction Vehicles (C$16.4M), Delivery Trucks (C$10.3M), and Other Agricultural Machinery (C$8.51M).

Origins In September 2024 the exports of Canada were mainly from Ontario (C$61.1M), Quebec (C$20.3M), Alberta (C$976k), Newfoundland Labrador (C$959k), and British Columbia (C$387k), while imports destinations were mainly Ontario (C$44.7M), Quebec (C$41.6M), Nova Scotia (C$12.1M), Alberta (C$6.21M), and British Columbia (C$3.41M).

Growth In September 2024, the increase in Canada's year-by-year exports to Finland was explained primarily by an increase in product exports in Other Printed Material (C$247k or 314%), Telephones (C$224k or 30.6%), and Broadcasting Accessories (C$209k or 2.64k%). In September 2024, the decrease in Canada's year-by-year imports from Finland was explained primarily by an decrease in product imports in Special Pharmaceuticals (C$-8.49M or -90.4%), Telephones (C$-2.38M or -55.8%), and Metalworking Machine Parts (C$-1.22M or -71.1%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (September 2023 - September 2024)C$66.5M(378%)

IMPORT GROWTH (September 2023 - September 2024)C$-5.36M(-4.46%)

MAIN EXPORTER (September 2024)OntarioC$61.1M

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

To check Finland and Canada 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, Canada exported $590M to Finland. The main products exported from Canada to Finland were Nickel Ore ($173M), Copper Ore ($109M), and Coal Briquettes ($54.6M). During the last 5 years the exports of Canada to Finland have increased at an annualized rate of 2.4%, from $524M in 2017 to $590M in 2022.

In 2017, Finland exported $1.17B to Canada. The main products exported from Finland to Canada were Nickel Mattes ($121M), Other Construction Vehicles ($93M), and Cars ($86.7M). During the last 5 years the exports of Finland to Canada have increased at an annualized rate of 9.54%, from $742M in 2022 to $1.17B in 2017.

Exports from Canada () to Finland () (2022)

Exports from Finland () to Canada () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Canada
Top DestinationUnited States$438B

Finland
Top DestinationGermany$9.99B

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

In 2022, countries that imported more from Canada than Finland included United States ($438B), China ($25.4B), and Japan ($14.3B).

In 2022, countries that imported more from Finland than Canada included Sweden ($9.1B), Germany ($9.99B), and Estonia ($3.58B).

Difference in imports from Finland () and Canada () (2022)

Comparative Advantage Canada - Finland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Canada had a large net trade with Finland in the exports of Mineral Products ($343M), Transportation ($59.5M), and Machines ($57.9M).

During 2017, Finland had a large net trade with Canada in the exports of Machines ($417M), Metals ($179M), and Transportation ($147M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Canada Finland+$21.1MCars

Top Product Potential Finland Canada+$63MCars

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

Can Year

In 2020, Canada exported services to Finland worth $38M, with Transportation ($11.9M), Royalties and license fees ($11.2M), and Travel ($8.95M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of Canada () and Finland () (2022)

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