Finland (FIN) and Somalia (SOM) Trade | The Observatory of Economic Complexity

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Finland-Somalia Trade: In 2023, Finland exported $453k to Somalia. The main products that Finland exported to Somalia were Centrifuges ($134k), Medical Instruments ($55.1k), and Felt or Coated Fabric Garments ($50.8k). Over the past 5 years the exports of Finland to Somalia have increased at an annualized rate of 15.4%, from $222k in 2018 to $453k in 2023.

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

Somalia-Finland In N/A, Somalia did not export any products to Finland.

In 2023, Somalia 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, Somalia ranked 161 in total exports ($1.03B), 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 $453k to Somalia. The main products exported from Finland to Somalia were Centrifuges ($134k), Medical Instruments ($55.1k), and Felt or Coated Fabric Garments ($50.8k). During the last 5 years the exports of Finland to Somalia have increased at an annualized rate of 15.4%, from $222k in 2018 to $453k in 2023.

Somalia does not register exports to Finland.

Exports from Finland () to Somalia () (2023)

Exports from Somalia () to Finland () (2023)

Latest Data

Trade between Finland () and Somalia ()

Finland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Finland
Top DestinationUnited States$9.68B

Somalia
Top DestinationUnited Arab Emirates$360M

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

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

In 2023, countries that imported more from Somalia than Finland included Oman ($180M), Djibouti ($84.2M), and Macau ($19.9M).

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

Comparative Advantage Finland - Somalia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Finland had a large net trade with Somalia in the exports of Machines ($168k), Instruments ($94.4k), and Textiles ($50.8k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Finland Somalia+$103kCars

Top Product Potential Somalia Finland+$2.84kGold

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

About

Historical Data

Bilateral Trade by Products

Exports from Finland () to Somalia () (2023)

Exports from Somalia () to Finland () (2023)

Latest Data

Trade between Finland () and Somalia ()

Finland Exports

Market Competitiveness

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

Comparative Advantage Finland - Somalia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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