Finlàndia: Visió econòmica i política
Finland is a highly industrialised country whose economy relies heavily on foreign trade, which represented 72% of its GDP in 2020 (World Bank – latest data available). In the same year, Finland mainly exported petroleum oils (6%), paper (5.4%) and motor cars (4.2%); importing crude oil (5%), cars (4.5%), petroleum oils (3%), parts of motor vehicles and medicaments (2.5% each). The forest industry is vital for the country’s economy: in 2020, the value of exported Finnish forest industry products totalled EUR 10.4 billion, covering 18% of the country’s exports of goods (-14% year-on-year in real terms - Natural Resources Institute Finland).
According to data by Comtrade, the main trading partners were Germany (13.5%), Sweden (10.4%), the U.S. (8.3%), the Netherlands (6.5%), and China (5.2%); while the country’s imports came chiefly from Germany (15.4%), Sweden (10.9%), Russia (9.8%), and China (9%).
Finland's trade balance had traditionally been positive in the past, but its performance deteriorated in the last decade, alternating slightly positive results with negative ones. In 2020, the total export of goods (at USD 66.2 billion, -9.9% y-o-y) almost matched the total value of imports (USD 68.1 billion, -7.5% y-o-y); whereas export of services stood at USD 28.8 billion against almost USD 31.7 billion of import (with an annual double-digit decrease of 18.6% and 14.8%, respectively - data by WTO). According to the latest figures from Statistics Finland, goods exports grew past pre-pandemic levels in the third quarter of 2021, but service exports did not; with the current account being EUR 2 billion in surplus as of Q3/2021.
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 70,586 | 78,624 | 73,716 | 68,134 | 85,975 |
Exports of Goods (million USD) | 68,073 | 75,869 | 73,468 | 66,192 | 81,971 |
Imports of Services (million USD) | 31,012 | 35,200 | 37,230 | 31,727 | 35,696 |
Exports of Services (million USD) | 29,729 | 31,843 | 35,428 | 28,822 | 32,935 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 75.1 | 78.2 | 79.6 | 71.6 | 78.6 |
Trade Balance (million USD) | 1,689 | 333 | 2,579 | 3,596 | 3,387 |
Trade Balance (Including Service) (million USD) | 125 | -3,435 | 420 | 750 | 626 |
Imports of Goods and Services (Annual % Change) | 4.3 | 5.7 | 2.4 | -6.0 | 6.0 |
Exports of Goods and Services (Annual % Change) | 8.8 | 1.5 | 6.7 | -6.8 | 5.4 |
Imports of Goods and Services (in % of GDP) | 37.5 | 39.7 | 39.7 | 35.7 | 39.2 |
Exports of Goods and Services (in % of GDP) | 37.5 | 38.5 | 39.9 | 35.9 | 39.4 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 1.9 | 1.4 | 2.9 | 2.9 | 2.9 |
Volume of imports of goods and services (Annual % change) | 2.7 | 1.4 | 2.8 | 3.8 | 3.0 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2021 |
Germany | 13.2% |
Sweden | 10.2% |
United States | 6.6% |
Netherlands | 6.1% |
Russia | 5.4% |
See More Countries | 58.4% |
Main Suppliers (% of Imports) |
2021 |
Germany | 14.5% |
Russia | 11.7% |
Sweden | 11.5% |
China | 9.0% |
Netherlands | 4.5% |
See More Countries | 48.8% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: January 2023