Importing from Finland

Finland Import Guide | Trade Finance Global

Importing from Finland

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).

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
Telephone Dial In 358

Finland Exports Profile

Exports ($m USD)

67,281

Number of Export Products

3,826

Number of Export Partners

211

Top 5 export partners

Country

Trade

% Partner Share

Germany

9,399

13.97

Sweden

6,855

10.19

Netherlands

4,48

6.66

United States

4,364

6.49

Russian Federation

3,796

Top 5 Export Products at HS 6 digit level

Export Product

Number

Petroleum oils, etc, (excl. crude); preparation

7.5%

Coniferous wood sawn or chipped lengthwise, sli

6.3%

Multi-ply paper and paperboard, coated...

4.1%

Semi-bleached or bleached coniferous chemical w

3.6%

Automobiles with reciprocating piston engine di

3.0%

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%

Importing from Finland: What is trade finance?

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.

Information

Importing from Finland? Contact our local experts

Filand 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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