North Macedonia (MKD) and Finland (FIN) Trade | The Observatory of Economic Complexity

About

North Macedonia-Finland Trade: In 2023, North Macedonia exported $48.9M to Finland. The main products that North Macedonia exported to Finland were Thermostats ($39.4M), Ferroalloys ($4.06M), and Hot-Rolled Iron ($1.09M). Over the past 5 years the exports of North Macedonia to Finland have increased at an annualized rate of 67.1%, from $3.76M in 2018 to $48.9M in 2023.

In 2023, North Macedonia did not export any services to Finland.

Finland-North Macedonia Trade: In 2023, Finland exported $21.4M to North Macedonia. The main products that Finland exported to North Macedonia were Flat-Rolled Stainless Steel ($4.09M), Stone Processing Machines ($3.47M), and Kaolin Coated Paper ($1.47M). Over the past 5 years the exports of Finland to North Macedonia have increased at an annualized rate of 7.35%, from $15M in 2018 to $21.4M in 2023.

In 2023, Finland did not export any services to North Macedonia.

Comparison In 2023, North Macedonia ranked 104 in total exports ($10.1B), and does not have data regarding Economic Complexity Index. 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, North Macedonia exported $48.9M to Finland. The main products exported from North Macedonia to Finland were Thermostats ($39.4M), Ferroalloys ($4.06M), and Hot-Rolled Iron ($1.09M). During the last 5 years the exports of North Macedonia to Finland have increased at an annualized rate of 67.1%, from $3.76M in 2018 to $48.9M in 2023.

In 2018, Finland exported $21.4M to North Macedonia. The main products exported from Finland to North Macedonia were Flat-Rolled Stainless Steel ($4.09M), Stone Processing Machines ($3.47M), and Kaolin Coated Paper ($1.47M). During the last 5 years the exports of Finland to North Macedonia have increased at an annualized rate of 7.35%, from $15M in 2023 to $21.4M in 2018.

Exports from North Macedonia () to Finland () (2023)

Exports from Finland () to North Macedonia () (2023)

Latest Data

Trade between North Macedonia () and Finland ()

North Macedonia Exports

Date

Finland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

North Macedonia
Top DestinationGermany$4B

Finland
Top DestinationUnited States$9.68B

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

In 2023, countries that imported more from North Macedonia than Finland included Serbia ($827M), Bulgaria ($566M), and Greece ($542M).

In 2023, countries that imported more from Finland than North Macedonia included United States ($9.68B), Sweden ($8.13B), and Netherlands ($5.51B).

Difference in imports from Finland () and North Macedonia () (2023)

Comparative Advantage North Macedonia - Finland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, North Macedonia had a large net trade with Finland in the exports of Instruments ($39.4M), Metals ($5.19M), and Textiles ($1.52M).

During 2018, Finland had a large net trade with North Macedonia in the exports of Machines ($7.95M), Metals ($5.81M), and Paper Goods ($2.14M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential North Macedonia Finland+$326kHot-Rolled Iron

Top Product Potential Finland North Macedonia+$678kKaolin Coated Paper

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

About

Historical Data

Bilateral Trade by Products

Exports from North Macedonia () to Finland () (2023)

Exports from Finland () to North Macedonia () (2023)

Latest Data

Trade between North Macedonia () and Finland ()

North Macedonia Exports

Finland Exports

Market Competitiveness

Difference in imports from Finland () and North Macedonia () (2023)

Comparative Advantage North Macedonia - 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 North Macedonia () and Finland () (2023)

Keep Exploring