2023
Flag  
GDP
$296BCURRENT US$
Rnk 47 / 195
2013-2023
Flag
GDP GROWTH
9.35%CURRENT US$
Rnk 158 / 195
2023
Flag
 GDP
$77.2BCURRENT US$
Rnk 81 / 195
2013-2023
Flag
GDP GROWTH
25.9%CURRENT US$
Rnk 122 / 195
2023
Flag
GDP PC 
$52,926CURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP PC GROWTH
6.51%CURRENT US$
Rnk 144 / 195
2023
Flag
GDP PC
$22,798CURRENT US$
Rnk 54 / 196
2013-2023
Flag
GDP PC GROWTH
24.3%CURRENT US$
Rnk 90 / 195

About

Finland-Uruguay Trade: In 2023, Finland exported $70.9M to Uruguay. The main products that Finland exported to Uruguay were Other Agricultural Machinery ($12.7M), Papermaking Machines ($7.73M), and Delivery Trucks ($6.73M). Over the past 5 years the exports of Finland to Uruguay have increased at an annualized rate of 4.87%, from $55.9M in 2018 to $70.9M in 2023.

In 2020, Finland exported services to Uruguay worth $92.5M, with Other business services ($73.1M), Computer and information services ($14.8M), and Construction services ($2.28M) being the largest in terms of value.

Uruguay-Finland Trade: In 2023, Uruguay exported $10.4M to Finland. The main products that Uruguay exported to Finland were Sulfate Chemical Woodpulp ($4.26M), Iron Structures ($2.02M), and Bovine Meat ($1.86M). Over the past 5 years the exports of Uruguay to Finland have decreased at an annualized rate of 21.2%,  from $34.4M in 2018 to $10.4M in 2023.

In 2023, Uruguay 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, Uruguay ranked 52 in the Economic Complexity Index (ECI 0.22), and 100 in total exports ($11B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Finland exported $70.9M to Uruguay. The main products exported from Finland to Uruguay were Other Agricultural Machinery ($12.7M), Papermaking Machines ($7.73M), and Delivery Trucks ($6.73M). During the last 5 years the exports of Finland to Uruguay have increased at an annualized rate of 4.87%, from $55.9M in 2018 to $70.9M in 2023.

In 2018, Uruguay exported $10.4M to Finland. The main products exported from Uruguay to Finland were Sulfate Chemical Woodpulp ($4.26M), Iron Structures ($2.02M), and Bovine Meat ($1.86M). During the last 5 years the exports of Uruguay to Finland have decreased at an annualized rate of 21.2%, from $34.4M in 2023 to $10.4M in 2018.

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

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

Latest Data

Trade between Finland (Flag) and Uruguay (Flag)

Finland Exports

Uruguay Exports

Market Competitiveness

Color
Finland
Top Destination
United States$9.68B
Uruguay
Top Destination
China$2.34B

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

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

In 2023, countries that imported more from Uruguay than Finland included Brazil ($1.92B), Argentina ($569M), and Paraguay ($124M).

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

Comparative Advantage Finland - Uruguay

Flow
Scale

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

During 2023, Finland had a large net trade with Uruguay in the exports of Machines ($43.6M), Transportation ($8.63M), and Metals ($4.53M).

During 2018, Uruguay had a large net trade with Finland in the exports of Paper Goods ($4.26M), Animal Products ($2.79M), and Metals ($2.19M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Finland Uruguay+$1.02MTelephones
Top Product Potential Uruguay Finland+$907kFrozen Bovine Meat

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

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

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

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