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Exporting to Finland

Finland Export Guide | Trade Finance Global

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.

Finland Country Profile

Official Name (Local Language)Suomen tasavalta; Republiken Finland
CapitalHelsinki
Population5,498,211
CurrencyEuro
GDP$239.2 billion
LanguagesFinnish; Swedish
Telephone Dial In358

Finland Imports Profile

Imports ($m USD)

70,1

Number of Import Products

4,331

Number of Import Partners

208

Top 5 import partners

Country

Trade

% Partner Share

Germany

10,664

15.21

Russian Federation

9,206

13.13

Sweden

7,669

10.94

China

5,123

7.31

Netherlands

3,243

4.63

Top 5 Import Products at HS 6 digit level

Export Product

Number

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%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Finland

Agriculture

%

Product List

2.5%

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

Industry

%

Industry List

26.9%

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

Services

%

Services List

70.6%

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).

Information

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Finland Economic Statistics

Government Website

https://valtioneuvosto.fi/ en/frontpage

Sovereign Ratings

https://countryeconomy. com/ratings/finland

Central Bank

Suomen Pankki

Currency USD Exchange Rate

9214

Unemployment Rate

8.8%

Population below poverty line

NA

Inflation Rate

0.4%

Prime Lending Rate

0.25%

GDP

$239.2 billion

GDP Pro Capita (PPP)

$40,600

Currency Name

Euro

Currency Code

EUR

World Bank Classification

High Income

Competitive Industrial Performance

10/138

Corruption Perceptions Index

3/180

Ease of Doing Business

17/190

Enabling Trade Index

6/136

Currency in Finland

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