Exporting to Finland - Trade Finance Global

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Exporting to Finland

Last updated on 05 Aug 2024
11 Mar 2019 . 2 min read

Finland Country Profile

Official Name (Local Language) Suomen tasavalta; Republiken Finland

Capital Helsinki

Population 5,498,211

Currency Euro

GDP $239.2 billion

Languages Finnish; Swedish

Phone Dial In 358

Finland Exports Profile

Exports ($m USD) 67,281

Number of Export Products 3,826

Number of Export Partners 211

Finland Economic Statistics






Government Website
https://valtioneuvosto.fi/en/frontpage
Sovereign Ratingshttps://countryeconomy.com/ratings/finland
Central BankSuomen Pankki
Currency USD Exchange Rate0.9214
Unemployment Rate8.8%
Population below poverty lineNA
Inflation Rate0.4%
Prime Lending Rate0.25%
GDP$239.2 billion
GDP Pro Capita (PPP)$40,600
Currency NameEuro
Currency CodeEUR
World Bank ClassificationHigh Income
Competitive Industrial Performance10/138
Corruption Perceptions Index3/180
Ease of Doing Business17/190
Enabling Trade Index6/136

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Exporting to Finland

As reported by the Statistics Finland, the imports in Finland dipped lowest at €311.30 million in April 1976 while reached its highest at €5,878 million in March 2011. In average, Finland’s imports are €2,378.28 million citing the data available from 1975 until 2015.

The country ranked 43rd for import volumes however, its imports declined from $90.94 million in 2008 to $54.1 billion in 2009. Finland’s primary imported items would include foodstuffs, chemicals, electric and electronic products, petroleum and petroleum products, fabrics, machinery and equipment. Among these items, the electric and electronic products comprise 17% of the total imports, followed by the chemical products at 16.8%. Finland’s import partners are Russia, the United Kingdom, Sweden, China and the Netherlands.

Exporting to Finland: What is trade finance?

Finland large industrial and services base encourages an export-driven economy that produces primarily high-technology goods and services. Exports comprise about 50% of the country’s overall Gross Domestic Product (GDP). The country possesses 43rd of the world’s largest export economy and 8th of the most complex economy.

The total exports of Finland reached a total of $57.9 billion which enable it to be ranked as 40th in terms of export volumes. Among its export commodities, electronics comprises around 23.2% of the total export volume, then followed by chemical industry products at 15.9%. To add, some of Finland’s main exports would include machinery, paper and pulp, chemicals and timber. The major export partners of Finland are Sweden ($8.5 billion), Germany ($7.3 billion), Russia ($6.7 billion) and the United States ($4.9 billion).

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Finland

Agriculture

2.5%

Barley, wheat, sugar beets, potatoes; dairy cattle; fish

Industry

26.9%

Metals and metal products, electronics, machinery and scientific instruments, shipbuilding, pulp and paper, foodstuffs, chemicals, textiles, clothing

Services

70.6%

Map

Top 5 Import Partners

CountryTrade% Partner Share
Germany10,66415.21
Russian Federation9,20613.13
Sweden7,66910.94
China5,1237.31
Netherlands3,2434.63

Top 5 Import Products

Export ProductNumber
Petroleum oils and oils obtained from bituminou
7.0%
Petroleum oils, etc, (excl. crude); preparation
4.3%
Transmission apparatus, for radioteleph incorpo
3.4%
Other medicaments of mixed or unmixed products,
2.5%
Automobiles with diesel engine displacing more
2.5%

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