Finland (FIN) and Canada (CAN) Trade | The Observatory of Economic Complexity

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Finland-Canada Trade: In 2023, Finland exported $1.36B to Canada. The main products that Finland exported to Canada were Nickel Ore ($129M), Other Construction Vehicles ($121M), and Nickel Mattes ($91.6M). Over the past 5 years the exports of Finland to Canada have increased at an annualized rate of 6.96%, from $968M in 2018 to $1.36B in 2023.

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.

Canada-Finland Trade: In 2023, Canada exported $458M to Finland. The main products that Canada exported to Finland were Coal Briquettes ($107M), Copper Ore ($79.5M), and Nickel Ore ($43.3M). Over the past 5 years the exports of Canada to Finland have decreased at an annualized rate of 2.62%, from $682M in 2018 to $458M in 2023.

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.

Comparison: In 2023, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B). That same year, Canada ranked 30 in the Economic Complexity Index (ECI 0.9), and 10 in total exports ($574B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Finland exported $1.36B to Canada. The main products exported from Finland to Canada were Nickel Ore ($129M), Other Construction Vehicles ($121M), and Nickel Mattes ($91.6M). During the last 5 years the exports of Finland to Canada have increased at an annualized rate of 6.96%, from $968M in 2018 to $1.36B in 2023.

In 2018, Canada exported $458M to Finland. The main products exported from Canada to Finland were Coal Briquettes ($107M), Copper Ore ($79.5M), and Nickel Ore ($43.3M). During the last 5 years the exports of Canada to Finland have decreased at an annualized rate of 2.62%, from $682M in 2023 to $458M in 2018.

Exports from Finland () to Canada () (2023)

Exports from Canada () to Finland () (2023)

Latest Data

Trade between Finland () and Canada ()

Finland Exports

Date

Canada Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Finland
Top DestinationUnited States$9.68B

Canada
Top DestinationUnited States$410B

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

In 2023, countries that imported more from Finland than Canada included Sweden ($8.13B), Germany ($9.26B), and Estonia ($2.4B).

In 2023, countries that imported more from Canada than Finland included United States ($410B), China ($31.1B), and United Kingdom ($18B).

Difference in imports from Canada () and Finland () (2023)

Comparative Advantage Finland - Canada

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Finland had a large net trade with Canada in the exports of Machines ($483M), Mineral Products ($211M), and Metals ($143M).

During 2018, Canada had a large net trade with Finland in the exports of Mineral Products ($246M), Machines ($55.1M), and Transportation ($49.9M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Finland Canada+$63MCars

Top Product Potential Canada Finland+$21.1MCars

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

Can Year

Fin Year

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.

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 Finland () to Canada () (2020)

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Finland () to Canada () (2023)

Exports from Canada () to Finland () (2023)

Latest Data

Trade between Finland () and Canada ()

Finland Exports

Canada Exports

Market Competitiveness

Difference in imports from Canada () and Finland () (2023)

Comparative Advantage Finland - Canada

Potential Exports

Potential Exports

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Bilateral Service Trade

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

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

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Finland () and Canada () (2023)

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