2023
Flag  
GDP
$296BCURRENT US$
Rnk 47 / 195
2013-2023
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GDP GROWTH
9.35%CURRENT US$
Rnk 158 / 195
2023
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 GDP
$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH
6.86%CURRENT US$
Rnk 165 / 195
2023
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GDP PC 
$52,926CURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP PC GROWTH
6.51%CURRENT US$
Rnk 144 / 195
2023
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GDP PC
$39,003CURRENT US$
Rnk 32 / 196
2013-2023
Flag
GDP PC GROWTH
9.11%CURRENT US$
Rnk 136 / 195

About

Finland-Italy Trade: In 2023, Finland exported $2.78B to Italy. The main products that Finland exported to Italy were Large Flat-Rolled Stainless Steel ($525M), Sulfate Chemical Woodpulp ($152M), and Kaolin Coated Paper ($133M). Over the past 5 years the exports of Finland to Italy have increased at an annualized rate of 8.03%, from $1.89B in 2018 to $2.78B in 2023.

In 2020, Finland exported services to Italy worth $428M, with Computer and information services ($250M), Other business services ($76.5M), and Transportation ($46.8M) being the largest in terms of value.

Italy-Finland Trade: In 2023, Italy exported $2.43B to Finland. The main products that Italy exported to Finland were Motor vehicles; parts and accessories (8701 to 8705) ($107M), Electrical Transformers ($76M), and Valves ($62.9M). Over the past 5 years the exports of Italy to Finland have increased at an annualized rate of 4.62%,  from $1.94B in 2018 to $2.43B in 2023.

In 2020, Italy exported services to Finland worth $503M, with Other business services ($403M), Travel ($49.2M), and Transportation ($13.7M) 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, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Finland exported $2.78B to Italy. The main products exported from Finland to Italy were Large Flat-Rolled Stainless Steel ($525M), Sulfate Chemical Woodpulp ($152M), and Kaolin Coated Paper ($133M). During the last 5 years the exports of Finland to Italy have increased at an annualized rate of 8.03%, from $1.89B in 2018 to $2.78B in 2023.

In 2018, Italy exported $2.43B to Finland. The main products exported from Italy to Finland were Motor vehicles; parts and accessories (8701 to 8705) ($107M), Electrical Transformers ($76M), and Valves ($62.9M). During the last 5 years the exports of Italy to Finland have increased at an annualized rate of 4.62%, from $1.94B in 2023 to $2.43B in 2018.

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

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

Latest Data

Trade between Finland (Flag) and Italy (Flag)

Finland Exports

Italy Exports

Market Competitiveness

Color
Finland
Top Destination
United States$9.68B
Italy
Top Destination
Germany$71.4B

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

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

In 2023, countries that imported more from Italy than Finland included Germany ($71.4B), United States ($70.9B), and France ($61.1B).

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

Comparative Advantage Finland - Italy

Flow
Scale

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

During 2023, Finland had a large net trade with Italy in the exports of Metals ($909M), Machines ($692M), and Paper Goods ($577M).

During 2018, Italy had a large net trade with Finland in the exports of Machines ($965M), Metals ($292M), and Foodstuffs ($198M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Finland Italy+$27.3MTelephones
Top Product Potential Italy Finland+$51.4MPackaged Medicaments

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

In 2020, Finland exported services to Italy worth $428M, with Computer and information services ($250M), Other business services ($76.5M), and Transportation ($46.8M) being the largest in terms of value.

In 2020, Italy exported services to Finland worth $503M, with Other business services ($403M), Travel ($49.2M), and Transportation ($13.7M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Finland (Flag) to Italy (Flag) (2020)

Services Exports from Italy (Flag) to Finland (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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