Finland (FIN) and Libya (LBY) Trade | The Observatory of Economic Complexity

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Finland-Libya Trade: In 2023, Finland exported $4.09M to Libya. The main products that Finland exported to Libya were Sawn Wood ($2.88M), Surveying Equipment ($234k), and Electrical Transformers ($185k). Over the past 5 years the exports of Finland to Libya have increased at an annualized rate of 38%, from $816k in 2018 to $4.09M in 2023.

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

Libya-Finland Trade: In 2023, Libya exported $1.95k to Finland. The main products that Libya exported to Finland were Gas and Liquid Flow Measuring Instruments ($1.27k), X-Ray Equipment ($487), and Medical Instruments ($200). Over the past 5 years the exports of Libya to Finland have increased at an annualized rate of 12.7%, from $1.07k in 2018 to $1.95k in 2023.

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

Comparison: In 2023, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B). That same year, Libya ranked 102 in the Economic Complexity Index (ECI -0.84), and 67 in total exports ($35.4B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Finland exported $4.09M to Libya. The main products exported from Finland to Libya were Sawn Wood ($2.88M), Surveying Equipment ($234k), and Electrical Transformers ($185k). During the last 5 years the exports of Finland to Libya have increased at an annualized rate of 38%, from $816k in 2018 to $4.09M in 2023.

In 2018, Libya exported $1.95k to Finland. The main products exported from Libya to Finland were Gas and Liquid Flow Measuring Instruments ($1.27k), X-Ray Equipment ($487), and Medical Instruments ($200). During the last 5 years the exports of Libya to Finland have increased at an annualized rate of 12.7%, from $1.07k in 2023 to $1.95k in 2018.

Exports from Finland () to Libya () (2023)

Exports from Libya () to Finland () (2023)

Latest Data

Trade between Finland () and Libya ()

Finland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Finland
Top DestinationUnited States$9.68B

Libya
Top DestinationItaly$7.96B

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

In 2023, countries that imported more from Finland than Libya included United States ($9.68B), Sweden ($8.13B), and Netherlands ($5.51B).

In 2023, countries that imported more from Libya than Finland included Italy ($7.96B), Greece ($2.2B), and Spain ($3.08B).

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

Comparative Advantage Finland - Libya

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Finland had a large net trade with Libya in the exports of Wood Products ($2.93M), Instruments ($547k), and Machines ($317k).

During 2018, Libya had a large net trade with Finland in the exports of Instruments ($1.95k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Finland Libya+$350kSawn Wood

Top Product Potential Libya Finland+$9.58kCrude Petroleum

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Finland () to Libya () (2023)

Exports from Libya () to Finland () (2023)

Latest Data

Trade between Finland () and Libya ()

Finland Exports

Market Competitiveness

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

Comparative Advantage Finland - Libya

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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