Finland Trade, Finland Exports, Finland Imports

By: EconomyWatch Content   Date: 18 March 2010

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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. The nation’s trade is dominated by high tech products, such as mobile phones. However, as is the case with the manufacturing economy, Finland imports high amounts of raw materials and components for its manufactured goods.

Finland Trade: Exports and Imports

According to the 2009 estimates, Finland’s exports were recorded at $57.88 billion. The figures, however, experienced shrinkage from the earlier figure of $96.62 billion (2008) and the economy was able to sustain itself through the recession. The country ranked 40th in the world, in terms of export volumes.

Finland’s main exports commodities are:

  • Electrical and optical equipment

  • Machinery

  • Transport equipment

  • Paper and pulp

  • Chemicals

  • Basic metals

  • Timber

Electronics dominated the exports, accounting for almost 23.3% of the total export volume, followed by chemical industry products at 15.9%, and machinery and equipments at 14.3% (2008 data).

The major Finland export partners are:

  • Russia

  • Sweden

  • Germany

  • US

  • UK

  • The Netherlands

The graph below shows how the different countries contributed to the total export volume:

Country's contribution to total export volume

Finland imports took a beating as well. The figure dropped from $90.94 million in 2008 to $54.1 billion in 2009. The country ranked 43rd in the world in terms of import volumes.

The major imported commodities were:

  • Foodstuffs

  • Petroleum and petroleum products

  • Chemicals

  • Transport equipment

  • Iron and steel

  • Machinery

  • Textile yarn

  • Fabrics

  • Grains

In terms of imports, electric and electronic products dominated at 17%, followed by chemical products at 16.8%.

Finland import partners include:

  • Russia

  • Germany

  • Sweden

  • The Netherlands

  • China

  • The UK

The graph shows how the different countries contributed to Finland’s imports:

Various countries contribution to Finland’s imports

 

Electronics play a big role in Finland’s trade and contribute to both the exports and the imports of the country.


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