Finland is the 40th largest export economy in the world and the 8th most complex economy. Finland exported $70.7B, making it the 40th largest exporter in the world. Finland imported $65.4B, making it the 43rd largest importer in the world. Top export destinations of Finland are Germany ($7.36 billion), Sweden ($6.08 billion), the United States ($4.15 billion), the Netherlands ($3.73 billion) and Russia ($3.23 billion) With its large free open market and well industrialized sector, Finland is a well developed trading economy with a large part contributed by its manufacturing units. Finnish trade accounts for over one-third of its GDP.
Imports to Finland declined by 10 percent year-on-year to EUR 5.050 billion in June 2019. . Purchases from the EU plunged 14 percent, and those from outside EU dropped 3 percent. Imports in Finland averaged 2587.19 EUR Million from 1975 until 2019, reaching an all time high of 6060 EUR Million in October of 2018 and a record low of 311.30 EUR Million in April of 1976.
Imports in Finland is expected to be 5790.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Finland to stand at 5920.00 in 12 months time. In the long-term, the Finland Imports is projected to trend around 5780.00 EUR Million in 2020.
Finnish principal imports are food stuffs, petroleum and petroleum products, chemicals, transport equipment, iron and steel, machinery, textile yarn and fabrics and grains. Its main import partners are Germany, Russia, Sweden, Netherlands and China.
Exports from Finland decreased 3 percent year-on-year to EUR 5.245 billion in June 2019, as sales decreased for transport vehicles; forest industry products, machinery and equipment, and chemical products. Exports declined to Germany, Sweden, Netherlands, and the UK. On the other hand, shipments rose for the US, China, and Russia. Sales to the EU went down 7 percent while those to outside EU fell 3 percent. Exports in Finland averaged 2798.79 EUR Million from 1975 until 2019, reaching an all time high of 6451 EUR Million in April of 2008 and a record low of 190.90 EUR Million in August of 1975.
Exports in Finland is expected to be 5590.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Finland to stand at 5650.00 in 12 months time. In the long-term, the Finland Exports is projected to trend around 5400.00 EUR Million in 2020.
International trade makes a third of Finland’s GDP. Finnish principal exports are: telecommunications equipment, passenger cars and forestry products. Finland is a major producer of paper and paperboard, and accounts for a large percentage of the world export market (10.7%). Finland’s largest exports markets are European Union (Germany and Sweden), Russia and United States.
