2023
Flag  
GDP
$296BCURRENT US$
Rnk 47 / 195
2013-2023
Flag
GDP GROWTH
9.35%CURRENT US$
Rnk 158 / 195
2023
Flag
 GDP
$23.5BCURRENT US$
Rnk 115 / 195
2013-2023
Flag
GDP GROWTH
84.3%CURRENT US$
Rnk 29 / 195
2023
Flag
GDP PC 
$52,926CURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP PC GROWTH
6.51%CURRENT US$
Rnk 144 / 195
2023
Flag
GDP PC
$8,575CURRENT US$
Rnk 93 / 196
2013-2023
Flag
GDP PC GROWTH
94.3%CURRENT US$
Rnk 10 / 195

About

Finland-Albania Trade: In 2023, Finland exported $8.91M to Albania. The main products that Finland exported to Albania were Sawn Wood ($2.34M), Broadcasting Equipment ($1.94M), and Blank Audio Media ($1.72M). Over the past 5 years the exports of Finland to Albania have increased at an annualized rate of 27.7%, from $2.62M in 2018 to $8.91M in 2023.

In 2023, Finland did not export any services to Albania.

Albania-Finland Trade: In 2023, Albania exported $3.88M to Finland. The main products that Albania exported to Finland were Ferroalloys ($2.14M), Knit Men's Undergarments ($233k), and Leather Footwear ($229k). Over the past 5 years the exports of Albania to Finland have increased at an annualized rate of 15.3%,  from $1.91M in 2018 to $3.88M in 2023.

In 2017, Albania exported services to Finland worth $2.6M, with Travel ($2.03M), Transportation ($339k), and Computer and information services ($113k) being the largest in terms of value.

Comparison: In 2023,  Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B). That same year, Albania ranked 77 in the Economic Complexity Index (ECI -0.33), and 134 in total exports ($4.25B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Finland exported $8.91M to Albania. The main products exported from Finland to Albania were Sawn Wood ($2.34M), Broadcasting Equipment ($1.94M), and Blank Audio Media ($1.72M). During the last 5 years the exports of Finland to Albania have increased at an annualized rate of 27.7%, from $2.62M in 2018 to $8.91M in 2023.

In 2018, Albania exported $3.88M to Finland. The main products exported from Albania to Finland were Ferroalloys ($2.14M), Knit Men's Undergarments ($233k), and Leather Footwear ($229k). During the last 5 years the exports of Albania to Finland have increased at an annualized rate of 15.3%, from $1.91M in 2023 to $3.88M in 2018.

Exports from Finland (Flag) to Albania (Flag) (2023)

Exports from Albania (Flag) to Finland (Flag) (2023)

Latest Data

Trade between Finland (Flag) and Albania (Flag)

Finland Exports

Albania Exports

Market Competitiveness

Color
Finland
Top Destination
United States$9.68B
Albania
Top Destination
Italy$1.72B

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

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

In 2023, countries that imported more from Albania than Finland included Greece ($409M), North Macedonia ($134M), and Montenegro ($82.3M).

Difference in imports from Albania (Flag) and Finland (Flag) (2023)

Comparative Advantage Finland - Albania

Flow
Scale

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

During 2023, Finland had a large net trade with Albania in the exports of Machines ($4.27M), Wood Products ($2.43M), and Paper Goods ($896k).

During 2018, Albania had a large net trade with Finland in the exports of Metals ($2.2M), Textiles ($973k), and Footwear and Headwear ($530k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Finland Albania+$251kKaolin Coated Paper
Top Product Potential Albania Finland+$1.03MFerroalloys

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

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

Product Space of Finland (Flag) and Albania (Flag) (2023)

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