Iraq (IRQ) and Finland (FIN) Trade | The Observatory of Economic Complexity

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Iraq-Finland Trade: In 2022, Iraq exported $20.9k to Finland. The main products that Iraq exported to Finland were Surveying Equipment ($10k), Broadcasting Equipment ($1.94k), and Electric Motor Parts ($1.34k). Over the past 5 years the exports of Iraq to Finland have decreased at an annualized rate of 4.69%, from $26.5k in 2017 to $20.9k in 2022.

In 2022, Iraq did not export any services to Finland.

Finland-Iraq Trade: In 2022, Finland exported $35.2M to Iraq. The main products that Finland exported to Iraq were Electric Generating Sets ($22.6M), Electric Motor Parts ($2.47M), and Sawn Wood ($1.65M). Over the past 5 years the exports of Finland to Iraq have increased at an annualized rate of 28.6%, from $10M in 2017 to $35.2M in 2022.

In 2022, Finland did not export any services to Iraq.

Comparison: In 2022, Iraq ranked 103 in the Economic Complexity Index (ECI -0.84), and 36 in total exports ($123B). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.41), and 46 in total exports ($89.9B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Iraq exported $20.9k to Finland. The main products exported from Iraq to Finland were Surveying Equipment ($10k), Broadcasting Equipment ($1.94k), and Electric Motor Parts ($1.34k). During the last 5 years the exports of Iraq to Finland have decreased at an annualized rate of 4.69%, from $26.5k in 2017 to $20.9k in 2022.

In 2017, Finland exported $35.2M to Iraq. The main products exported from Finland to Iraq were Electric Generating Sets ($22.6M), Electric Motor Parts ($2.47M), and Sawn Wood ($1.65M). During the last 5 years the exports of Finland to Iraq have increased at an annualized rate of 28.6%, from $10M in 2022 to $35.2M in 2017.

Exports from Iraq () to Finland () (2022)

Exports from Finland () to Iraq () (2022)

Latest Data

Trade between Iraq () and Finland ()

Finland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iraq
Top DestinationIndia$38.8B

Finland
Top DestinationGermany$9.99B

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

In 2022, countries that imported more from Iraq than Finland included India ($38.8B), China ($34B), and South Korea ($8.21B).

In 2022, countries that imported more from Finland than Iraq included Sweden ($9.1B), Germany ($9.99B), and Estonia ($3.58B).

Difference in imports from Finland () and Iraq () (2022)

Comparative Advantage Iraq - Finland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Iraq had a large net trade with Finland in the exports of Instruments ($11.6k), Machines ($5.31k), and Textiles ($1.67k).

During 2017, Finland had a large net trade with Iraq in the exports of Machines ($29.9M), Wood Products ($1.67M), and Instruments ($989k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Iraq Finland+$14.9kTelephones

Top Product Potential Finland Iraq+$2.51MTelephones

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

About

Historical Data

Bilateral Trade by Products

Exports from Iraq () to Finland () (2022)

Exports from Finland () to Iraq () (2022)

Latest Data

Trade between Iraq () and Finland ()

Finland Exports

Market Competitiveness

Difference in imports from Finland () and Iraq () (2022)

Comparative Advantage Iraq - Finland

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Iraq () and Finland () (2022)

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