Finland (FIN) and Russia (RUS) Trade | The Observatory of Economic Complexity

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Finland-Russia Trade: In 2023, Finland exported $708M to Russia. The main products that Finland exported to Russia were Precipitated Copper ($337M), Other Aluminium Products ($17.8M), and Other Plastic Products ($17.6M). Over the past 5 years the exports of Finland to Russia have decreased at an annualized rate of 28.5%, from $3.78B in 2018 to $708M in 2023.

In 2020, Finland exported services to Russia worth $506M, with Computer and information services ($255M), Other business services ($143M), and Transportation ($66.2M) being the largest in terms of value.

Russia-Finland Trade: In 2023, Russia exported $1.28B to Finland. The main products that Russia exported to Finland were Nickel Mattes ($1.1B), Petroleum Gas ($68.7M), and Nuclear Reactors ($28.6M). Over the past 5 years the exports of Russia to Finland have decreased at an annualized rate of 34.9%, from $11B in 2018 to $1.28B in 2023.

In 2020, Russia exported services to Finland worth $546M, with Construction services ($157M), Transportation ($157M), and Other business services ($126M) 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, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Finland exported $708M to Russia. The main products exported from Finland to Russia were Precipitated Copper ($337M), Other Aluminium Products ($17.8M), and Other Plastic Products ($17.6M). During the last 5 years the exports of Finland to Russia have decreased at an annualized rate of 28.5%, from $3.78B in 2018 to $708M in 2023.

In 2018, Russia exported $1.28B to Finland. The main products exported from Russia to Finland were Nickel Mattes ($1.1B), Petroleum Gas ($68.7M), and Nuclear Reactors ($28.6M). During the last 5 years the exports of Russia to Finland have decreased at an annualized rate of 34.9%, from $11B in 2023 to $1.28B in 2018.

Exports from Finland () to Russia () (2023)

Exports from Russia () to Finland () (2023)

Latest Data

Trade between Finland () and Russia ()

Finland Exports

Date

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Finland
Top DestinationUnited States$9.68B

Russia
Top DestinationChina$129B

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

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

In 2023, countries that imported more from Russia than Finland included China ($129B), India ($66.1B), and Turkey ($31B).

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

Comparative Advantage Finland - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Finland had a large net trade with Russia in the exports of Metals ($369M), Machines ($122M), and Chemical Products ($53M).

During 2018, Russia had a large net trade with Finland in the exports of Metals ($1.11B), Mineral Products ($82.9M), and Chemical Products ($32.3M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Finland Russia+$60.2MRefined Petroleum

Top Product Potential Russia Finland+$514MCrude 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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Bilateral Service Trade

Rus Year

Fin Year

In 2020, Finland exported services to Russia worth $506M, with Computer and information services ($255M), Other business services ($143M), and Transportation ($66.2M) being the largest in terms of value.

In 2020, Russia exported services to Finland worth $546M, with Construction services ($157M), Transportation ($157M), and Other business services ($126M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Russia () 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 Russia. This means that a dot/product with the flag of Finland indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Finland.

About

Historical Data

Bilateral Trade by Products

Exports from Finland () to Russia () (2023)

Exports from Russia () to Finland () (2023)

Latest Data

Trade between Finland () and Russia ()

Finland Exports

Russia Exports

Market Competitiveness

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

Comparative Advantage Finland - Russia

Potential Exports

Potential Exports

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Bilateral Service Trade

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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