About

Overview In 2022, Finland was the number 47 economy in the world in terms of GDP (current US$), the number 46 in total exports, the number 46 in total imports, the number 18 economy in terms of GDP per capita (current US$) and the number 13 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Finland are Refined Petroleum ($6.95B), Kaolin Coated Paper ($4.37B), Large Flat-Rolled Stainless Steel ($3.48B), Sulfate Chemical Woodpulp ($2.93B), and Cars ($2.92B), exporting mostly to Germany ($9.99B), United States ($9.17B), Sweden ($9.1B), Netherlands ($5.88B), and China ($4.94B).

In 2022, Finland was the world's biggest exporter of Precipitated Copper ($772M) and Raw Furskins ($247M)

Imports The top imports of Finland are Crude Petroleum ($6.94B), Refined Petroleum ($4.49B), Cars ($3.21B), Electricity ($2.16B), and Nickel Mattes ($1.83B), importing mostly from Sweden ($13.4B), Germany ($12.7B), China ($7.16B), Norway ($6.36B), and Netherlands ($5.87B).

In 2022, Finland was the world's biggest importer of Raw Furskins ($206M) and Tall Oil ($95.8M)

Location Finland borders Norway, Russia, and Sweden by land and Estonia by sea.

Latest Trends

Latest Trade

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The following section uses the most recent trade data from partners of Finland.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Refined Petroleum$6.95B
Top Destination (2022)Germany$9.99B

In 2022, Finland exported a total of $89.9B, making it the number 46 exporter in the world. During the last five reported years the exports of Finland have changed by $20B from $69.8B in 2017 to $89.9B in 2022.

The most recent exports are led by Refined Petroleum ($6.95B), Kaolin Coated Paper ($4.37B), Large Flat-Rolled Stainless Steel ($3.48B), Sulfate Chemical Woodpulp ($2.93B), and Cars ($2.92B). The most common destination for the exports of Finland are Germany ($9.99B), United States ($9.17B), Sweden ($9.1B), Netherlands ($5.88B), and China ($4.94B).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
United States$2.94B (+ 47.2%)
Sweden$1.27B (+ 16.3%)
Estonia$948M (+ 36.1%)
Fastest Growing Import Markets (2021 - 2022)
Norway$4.49B (+ 239%)
Sweden$1.47B (+ 12.3%)
United States$1.28B (+ 57.7%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Finland Exports Services (2020)$14.5B
Finland Imports Services (2020)$23.2B

In 2020, Finland exported $14.5B worth of services. The top services exported by Finland in 2020 were Miscellaneous business, professional, and technical services ($5.23B), Other royalties and license fees ($2.81B), Sea transport ($1.13B), Other transport ($977M), and Personal travel ($763M).

The top services imported by Finland in 2020 were Miscellaneous business, professional, and technical services ($9.55B), Sea transport ($3.04B), Other transport ($1.77B), Merchanting and other trade-related services ($1.52B), and Personal travel ($1.36B).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)1.41Rank 13 of 133
Economic Complexity (Technology)1.38Rank 4 of 96
Economic Complexity (Research)1.56Rank 19 of 135

Most Specialized Products by RCA Index

Finland has a high level of specialization in Precipitated Copper (124), Raw Furskins (85.3), Papermaking Machines (38.5), Vegetable Parchment (36.6), and Kaolin Coated Paper (35.7). Specialization is measured using RCA, an index that takes the ratio between Finland observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Finland according to the relatedness index, were Cobalt Ore (0.28), Harvesting Machinery (0.26), Rock Wool (0.26), Acrylic Polymers (0.26), and Fuel Wood (0.26). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Finland is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Finland. These are products that tend to be co-exported with the products that Finland exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Finland's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨7th to the 13th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings

ECI (Trade) Ranking by Country

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