Finland (FIN) and North Macedonia (MKD) Trade | The Observatory of Economic Complexity

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Finland-North Macedonia Trade: In 2023, Finland exported $21.4M to North Macedonia. The main products that Finland exported to North Macedonia were Flat-Rolled Stainless Steel ($4.09M), Stone Processing Machines ($3.47M), and Kaolin Coated Paper ($1.47M). Over the past 5 years the exports of Finland to North Macedonia have increased at an annualized rate of 7.35%, from $15M in 2018 to $21.4M in 2023.

In 2023, Finland did not export any services to North Macedonia.

North Macedonia-Finland Trade: In 2023, North Macedonia exported $48.9M to Finland. The main products that North Macedonia exported to Finland were Thermostats ($39.4M), Ferroalloys ($4.06M), and Hot-Rolled Iron ($1.09M). Over the past 5 years the exports of North Macedonia to Finland have increased at an annualized rate of 67.1%, from $3.76M in 2018 to $48.9M in 2023.

In 2023, North Macedonia 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, North Macedonia ranked 104 in total exports ($10.1B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Finland exported $21.4M to North Macedonia. The main products exported from Finland to North Macedonia were Flat-Rolled Stainless Steel ($4.09M), Stone Processing Machines ($3.47M), and Kaolin Coated Paper ($1.47M). During the last 5 years the exports of Finland to North Macedonia have increased at an annualized rate of 7.35%, from $15M in 2018 to $21.4M in 2023.

In 2018, North Macedonia exported $48.9M to Finland. The main products exported from North Macedonia to Finland were Thermostats ($39.4M), Ferroalloys ($4.06M), and Hot-Rolled Iron ($1.09M). During the last 5 years the exports of North Macedonia to Finland have increased at an annualized rate of 67.1%, from $3.76M in 2023 to $48.9M in 2018.

Exports from Finland () to North Macedonia () (2023)

Exports from North Macedonia () to Finland () (2023)

Latest Data

Trade between Finland () and North Macedonia ()

Finland Exports

Date

North Macedonia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Finland
Top DestinationUnited States$9.68B

North Macedonia
Top DestinationGermany$4B

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

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

In 2023, countries that imported more from North Macedonia than Finland included Serbia ($827M), Bulgaria ($566M), and Greece ($542M).

Difference in imports from North Macedonia () and Finland () (2023)

Comparative Advantage Finland - North Macedonia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Finland had a large net trade with North Macedonia in the exports of Machines ($7.95M), Metals ($5.81M), and Paper Goods ($2.14M).

During 2018, North Macedonia had a large net trade with Finland in the exports of Instruments ($39.4M), Metals ($5.19M), and Textiles ($1.52M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Finland North Macedonia+$678kKaolin Coated Paper

Top Product Potential North Macedonia Finland+$326kHot-Rolled Iron

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 North Macedonia. This means that a dot/product with the flag of Finland indicates it has a comparative advantage over North Macedonia. Similarly, a dot/product with the flag of North Macedonia indicates it has a comparative advantage over Finland.

About

Historical Data

Bilateral Trade by Products

Exports from Finland () to North Macedonia () (2023)

Exports from North Macedonia () to Finland () (2023)

Latest Data

Trade between Finland () and North Macedonia ()

Finland Exports

North Macedonia Exports

Market Competitiveness

Difference in imports from North Macedonia () and Finland () (2023)

Comparative Advantage Finland - North Macedonia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Finland () and North Macedonia () (2023)

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