Kuwait (KWT) and Finland (FIN) Trade | The Observatory of Economic Complexity

About

Kuwait-Finland Trade: In 2023, Kuwait exported $210k to Finland. The main products that Kuwait exported to Finland were Reaction and Catalytic Products ($169k), Low-voltage Protection Equipment ($19k), and Surveying Equipment ($5.8k). Over the past 5 years the exports of Kuwait to Finland have decreased at an annualized rate of 12%, from $399k in 2018 to $210k in 2023.

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

Finland-Kuwait Trade: In 2023, Finland exported $33.3M to Kuwait. The main products that Finland exported to Kuwait were Sawn Wood ($7.26M), Packaged Medicaments ($2.55M), and Medical Instruments ($1.84M). Over the past 5 years the exports of Finland to Kuwait have increased at an annualized rate of 1.09%, from $31.6M in 2018 to $33.3M in 2023.

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

Comparison: In 2023, Kuwait ranked 53 in the Economic Complexity Index (ECI 0.21), and 47 in total exports ($71B). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Kuwait exported $210k to Finland. The main products exported from Kuwait to Finland were Reaction and Catalytic Products ($169k), Low-voltage Protection Equipment ($19k), and Surveying Equipment ($5.8k). During the last 5 years the exports of Kuwait to Finland have decreased at an annualized rate of 12%, from $399k in 2018 to $210k in 2023.

In 2018, Finland exported $33.3M to Kuwait. The main products exported from Finland to Kuwait were Sawn Wood ($7.26M), Packaged Medicaments ($2.55M), and Medical Instruments ($1.84M). During the last 5 years the exports of Finland to Kuwait have increased at an annualized rate of 1.09%, from $31.6M in 2023 to $33.3M in 2018.

Exports from Kuwait () to Finland () (2023)

Exports from Finland () to Kuwait () (2023)

Latest Data

Trade between Kuwait () and Finland ()

Kuwait Exports

Date

Finland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Kuwait
Top DestinationChina$17.4B

Finland
Top DestinationUnited States$9.68B

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

In 2023, countries that imported more from Kuwait than Finland included China ($17.4B), India ($9.51B), and Japan ($9.13B).

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

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

Comparative Advantage Kuwait - Finland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Kuwait had a large net trade with Finland in the exports of Chemical Products ($171k), Machines ($20.3k), and Instruments ($9.43k).

During 2018, Finland had a large net trade with Kuwait in the exports of Wood Products ($8.3M), Machines ($8.05M), and Instruments ($4.66M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Kuwait Finland+$366kReaction and Catalytic Products

Top Product Potential Finland Kuwait+$1.56MPackaged Medicaments

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Kuwait () to Finland () (2023)

Exports from Finland () to Kuwait () (2023)

Latest Data

Trade between Kuwait () and Finland ()

Kuwait Exports

Finland Exports

Market Competitiveness

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

Comparative Advantage Kuwait - Finland

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

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

Keep Exploring