In this guide, we give you an overview of Finland’s economy, including the country’s primary imports and exports.
Finland Economy Overview
Finland celebrated its first century of independence in 2017. The country enjoys a strong reputation as one of the safest and most stable countries in the world.
Finland is ranked as the 42nd largest export economy in the world, according to the latest figures. Its annual exports are worth $76.8 billion and imports $75 billion, producing a positive trade balance of $1.74 billion.
Top Finnish Exports
Here is a breakdown of the most important products exported by Finland, both commodities and other notable exports.
- Refined petroleum – $6.07 billion
- Kaolin-coated paper – $5.13 billion
- Large flat-rolled stainless steel – $2.81 billion
- Sulphate chemical wood pulp – $2.87 billion
- Sawn wood – $2.27 billion
If you’re interested in trading some of these commodities, you can jump to our list of recommended regulated brokers in at the end of the page.
Other Notable Exports
- Cars – $3.97 billion
- Medical instruments – $1.41 billion
- Electrical transformers – $1.08 billion
- Passenger and cargo ships – $935 million
- Broadcasting equipment – $862 million
Finland has suffered a fall in the value of its annual exports over the last five reported years, declining by -$1.54 billion from $78.3 billion in 2013 to $76.8 billion in 2018.
Top Finnish Imports
Here is a breakdown of the most important products imported by Finland, both commodities and other notable imports.
- Crude petroleum – $6.33 billion
- Refined petroleum – $2.92 billion
- Scrap iron – $895 million
- Nickel matte – $805 million
- Copper ore – $670 million
Other Notable Imports
- Cars – $3.42 billion
- Broadcasting equipment – $1.65 billion
- Computers – $1.6 billion
- Packaged medicaments – $1.47 billion
- Vehicle parts – $1.77 billion
GDP of Finland
The GDP of Finland is $277 billion, which represents a GDP per capita of $50,152. In the ten years between 2002 and 2018, Finland’s GDP showed a negative growth rate of -2.74%.
Details on Finland’s Imports/Exports
Shipments of refined petroleum account for 7.9% of the country’s total annual exports and Finland has a 0.81% share of a global export market that is worth $753 billion each year.
Sweden is the most significant destination for Finland’s refined petroleum exports and receives 27.8% of its annual shipments, followed by the Netherlands (11.5%) and the United Kingdom (10.5%).
Large Flat-Rolled Stainless Steel
Annual exports totaling $2.81 billion of large flat-rolled stainless steel are worth 3.66% of Finland’s yearly export total.
Finland is the third-largest exporter of large flat-rolled steel in the world with an 8.51% share of a global export market that is worth $33.1 billion annually, behind China (16%) and Belgium-Luxembourg (10.8%).
The Netherlands receives 48.1% of Finland’s total annual exports of this commodity.
The global export market for plywood is worth $16.8 billion annually. Finland is the sixth-largest exporter with a 3.93% share of this market.
Finland exports 20.6% or $136 million of its $660 million annual total of plywood shipments to Germany.
Annual exports of raw zinc account for 1.04% of Finland’s total shipments. The country is the eighth largest exporter with a 4.65% share of a global market that is worth $17.2 billion each year.
The Netherlands (47.5%) and Germany (28.4%) are key destinations for Finland’s raw zinc exports.
The largest known deposit of zinc in Finland is situated in Taivaljärvi.
The worldwide export market for raw nickel is worth $14 billion annually and Finland has a 4.15% share of this global market with exports of $582 million.
Finland ships its raw nickel exports to numerous destinations around the world, with the United States (23.7%), China (14.9%), Sweden (13.4%), and Germany (10.8%) being the main recipients.
Some Interesting Facts About Finland
- There are 179,584 islands in and around Finland, which is more than any other country in the world.
- There are more individual lakes in Finland (187,888) than in any other country in the world.
- Finland is an egalitarian society and uses gender-neutral words in its language.
- Business meetings in Finland can often include an informal discussion while taking a sauna.
Interested in Trading Commodities?
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. <b>Between 53.00%-83.00% of retail investor accounts lose money when trading CFDs.</b> You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Sources and Further Reading
- Learn more about the state of world government debt from our country debt clock pages.
- See our global economic indicator guide to more than 45 other countries.
- Get our full guide to trading commodities.
- All figures are based on OEC 2018 calculations and projections unless otherwise stated.
All currency is reported in US dollars.