United Kingdom (GBR) and Finland (FIN) Trade

2023

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Exports $1.92BRnk 34 / 223

2023

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About

United Kingdom-Finland Trade: In 2023, United Kingdom exported $1.92B to Finland. The main products that United Kingdom exported to Finland were Crude Petroleum ($447M), Cars ($199M), and Packaged Medicaments ($55.3M). Over the past 5 years the exports of United Kingdom to Finland have decreased at an annualized rate of 0.98%, from $2.01B in 2018 to $1.92B in 2023.

In 2019, United Kingdom exported services to Finland worth $1.53B, with Other business services ($562M), Financial services ($416M), and Travel ($217M) being the largest in terms of value.

Finland-United Kingdom Trade: In 2023, Finland exported $3.25B to United Kingdom. The main products that Finland exported to United Kingdom were Refined Petroleum ($355M), Kaolin Coated Paper ($296M), and Sawn Wood ($233M). Over the past 5 years the exports of Finland to United Kingdom have decreased at an annualized rate of 0.82%, from $3.38B in 2018 to $3.25B in 2023.

In 2020, Finland exported services to United Kingdom worth $1.18B, with Computer and information services ($579M), Other business services ($336M), and Transportation ($93.7M) being the largest in terms of value.

Comparison: In 2023, United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.5), and 14 in total exports ($429B). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B).

Latest Trends

November, 2024

About

Overview In November 2024, United Kingdom exported £168M and imported £172M from Finland, resulting in a negative trade balance of £4.15M. Between November 2023 and November 2024 the exports of United Kingdom have increased by £42.3M (33.6%) from £126M to £168M, while imports decreased by £-45.7M (-21%) from £218M to £172M.

Trade In November 2024, the top exports of United Kingdom to Finland were Crude Petroleum (£52.4M), Cars (£6.75M), Oscilloscopes (£5.81M), Aircraft parts for spacecraft, UAVs, and... (£3.49M), and Nitrile Compounds (£2.86M). In November 2024 the top imports of United Kingdom from Finland were Kaolin Coated Paper (£21.4M), Sawn Wood (£16.4M), Uncoated Paper (£8.22M), Cellulose Fibers Paper (£6.72M), and Medical Instruments (£5.53M).

Origins In November 2024 the exports of United Kingdom were mainly from Lerwick (£79.5M), London (£28M), Immingham (£15.8M), East Midlands Airport (£5.94M), and Dover Eurotunnel (£5.54M), while imports destinations were mainly London (£42.4M), Immingham (£29.5M), Middlesbrough (£11.4M), Hull (£10.8M), and London Heathrow Airport (£9.6M).

Growth In November 2024, the increase in United Kingdom's year-by-year exports to Finland was explained primarily by an increase in product exports in Oscilloscopes (£5.59M or 2.58k%), Aircraft parts for spacecraft, UAVs, and... (£2.84M or 439%), and Nitrile Compounds (£1.54M or 117%). In November 2024, the decrease in United Kingdom's year-by-year imports from Finland was explained primarily by an decrease in product imports in Refined Petroleum (£-19.2M or -99.7%), Coated Flat-Rolled Iron (£-5.18M or -92.7%), and Laboratory Reagents (£-4.96M or -86%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)£42.3M(33.6%)

IMPORT GROWTH (November 2023 - November 2024)£-45.7M(-21%)

MAIN EXPORTER (November 2024)Lerwick£79.5M

This section shows exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United Kingdom over time.

To check Finland and United Kingdom trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, United Kingdom exported $1.92B to Finland. The main products exported from United Kingdom to Finland were Crude Petroleum ($447M), Cars ($199M), and Packaged Medicaments ($55.3M). During the last 5 years the exports of United Kingdom to Finland have decreased at an annualized rate of 0.98%, from $2.01B in 2018 to $1.92B in 2023.

In 2018, Finland exported $3.25B to United Kingdom. The main products exported from Finland to United Kingdom were Refined Petroleum ($355M), Kaolin Coated Paper ($296M), and Sawn Wood ($233M). During the last 5 years the exports of Finland to United Kingdom have decreased at an annualized rate of 0.82%, from $3.38B in 2023 to $3.25B in 2018.

Exports from United Kingdom () to Finland () (2023)

Exports from Finland () to United Kingdom () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United Kingdom
Top DestinationUnited States$59.7B

Finland
Top DestinationUnited States$9.68B

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

In 2023, countries that imported more from United Kingdom than Finland included United States ($59.7B), China ($35.3B), and Ireland ($29.1B).

In 2023, countries that imported more from Finland than United Kingdom included Sweden ($8.13B), Estonia ($2.4B), and Latvia ($1.1B).

Difference in imports from Finland () and United Kingdom () (2023)

Comparative Advantage United Kingdom - Finland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, United Kingdom had a large net trade with Finland in the exports of Mineral Products ($512M), Machines ($365M), and Transportation ($284M).

During 2018, Finland had a large net trade with United Kingdom in the exports of Paper Goods ($631M), Machines ($571M), and Mineral Products ($395M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United Kingdom Finland+$67.8MCars

Top Product Potential Finland United Kingdom+$131MCars

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

Fin Year

Gbr Year

In 2019, United Kingdom exported services to Finland worth $1.53B, with Other business services ($562M), Financial services ($416M), and Travel ($217M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom () to Finland () (2019)

Services Exports from Finland () to United Kingdom () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of United Kingdom () and Finland () (2023)

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