United States (USA) and Finland (FIN) Trade

2022

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Exports $3.5BRnk 54 / 219

2022

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About

United States-Finland Trade: In 2022, United States exported $3.5B to Finland. The main products that United States exported to Finland were Crude Petroleum ($367M), Coal Briquettes ($314M), and Petroleum Gas ($304M). Over the past 5 years the exports of United States to Finland have increased at an annualized rate of 16.3%, from $1.65B in 2017 to $3.5B in 2022.

In 2017, United States exported services to Finland worth $2.31B, with Other business services ($755M), Royalties and license fees ($482M), and Travel ($444M) being the largest in terms of value.

Finland-United States Trade: In 2022, Finland exported $9.17B to United States. The main products that Finland exported to United States were Refined Petroleum ($1.28B), Passenger and Cargo Ships ($1.04B), and Kaolin Coated Paper ($890M). Over the past 5 years the exports of Finland to United States have increased at an annualized rate of 11.5%, from $5.33B in 2017 to $9.17B in 2022.

In 2020, Finland exported services to United States worth $4.86B, with Computer and information services ($3.39B), Royalties and license fees ($841M), and Other business services ($505M) being the largest in terms of value.

Comparison: In 2022, United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.41), and 46 in total exports ($89.9B).

Company data: In 2023, leading companies such as UPM-Kymmene (6.03k), ABB Motors and Mechanical (744), and Konecranes (218) were at the forefront of exporting goods from Finland to the United States. Conversely, Upm Sales Oy (5.95k), Abb Oy Drives (238), and Other (209) were notable for importing products to Finland from the United States.

Latest Trends

August, 2024

About

Overview In August 2024, United States exported $386M and imported $803M from Finland, resulting in a negative trade balance of $417M. Between August 2023 and August 2024 the exports of United States have increased by $158M (69.2%) from $228M to $386M, while imports increased by $155M (23.8%) from $648M to $803M.

Trade In August 2024, the top exports of United States to Finland were Crude Petroleum ($63.4M), Aircraft Parts ($44.9M), Commodities not elsewhere specified ($11.7M), Acyclic Hydrocarbons ($5.68M), and Oscilloscopes ($4.86M). In August 2024 the top imports of United States from Finland were Refined Petroleum ($111M), Kaolin Coated Paper ($50.9M), Papermaking Machines ($42.8M), Special Pharmaceuticals ($32.8M), and Cars ($29.7M).

Origins In August 2024 the exports of United States were mainly from Texas ($177M), Alaska ($43.6M), Wisconsin ($18M), Alabama ($14.3M), and California ($13.7M), while imports destinations were mainly Pennsylvania ($154M), Puerto Rico ($86M), Illinois ($63.5M), Maryland ($61.8M), and Texas ($40.9M).

Growth In August 2024, the increase in United States's year-by-year exports to Finland was explained primarily by an increase in product exports in Aircraft Parts ($38.4M or 593%), Commodities not elsewhere specified ($5.71M or 95.8%), and Oscilloscopes ($2.29M or 89.4%). In August 2024, the increase in United States's year-by-year imports from Finland was explained primarily by an increase in product imports in Refined Petroleum ($51.1M or 86%), Papermaking Machines ($33.2M or 345%), and Kaolin Coated Paper ($19M or 59.4%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (August 2023 - August 2024)$158M(69.2%)

IMPORT GROWTH (August 2023 - August 2024)$155M(23.8%)

MAIN EXPORTER (August 2024)Texas$177M

This section shows exports and imports data at subnational level for United States. 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 States over time.

To check Finland and United States 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 2022, United States exported $3.5B to Finland. The main products exported from United States to Finland were Crude Petroleum ($367M), Coal Briquettes ($314M), and Petroleum Gas ($304M). During the last 5 years the exports of United States to Finland have increased at an annualized rate of 16.3%, from $1.65B in 2017 to $3.5B in 2022.

In 2017, Finland exported $9.17B to United States. The main products exported from Finland to United States were Refined Petroleum ($1.28B), Passenger and Cargo Ships ($1.04B), and Kaolin Coated Paper ($890M). During the last 5 years the exports of Finland to United States have increased at an annualized rate of 11.5%, from $5.33B in 2022 to $9.17B in 2017.

Exports from United States () to Finland () (2022)

Exports from Finland () to United States () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$308B

Finland
Top DestinationGermany$9.99B

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

In 2022, countries that imported more from United States than Finland included Canada ($308B), Mexico ($294B), and China ($151B).

In 2022, countries that imported more from Finland than United States included Estonia ($3.58B), Sweden ($9.1B), and Latvia ($903M).

Difference in imports from Finland () and United States () (2022)

Comparative Advantage United States - Finland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United States had a large net trade with Finland in the exports of Mineral Products ($1.26B), Chemical Products ($636M), and Machines ($626M).

During 2017, Finland had a large net trade with United States in the exports of Machines ($1.66B), Transportation ($1.37B), and Paper Goods ($1.34B).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United States Finland+$181MCrude Petroleum

Top Product Potential Finland United States+$331MCars

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

Usa Year

In 2017, United States exported services to Finland worth $2.31B, with Other business services ($755M), Royalties and license fees ($482M), and Travel ($444M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United States () to Finland () (2017)

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

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of United States and Finland. This means that a dot/product with the flag of United States 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 States.

Product Space of United States () and Finland () (2022)

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