It is the least populated country in the European Union as well as one of the most technologically advanced nations in the world. The second largest trading partner by volume was Sweden with an export volume of 13.98 million liters. Finland import partners include: Russia. Finland and the United States belong to a number of the same international organizations, including the United Nations, the Arctic Council, the Euro-Atlantic Partnership Council, the Organization for Security and Cooperation in Europe, the Organization for Economic Cooperation and Development, the International Monetary Fund, the World Bank, and the World Trade Organization. Finland’s membership in the WTO enables them to make use of the multilateral trade system. Finland Trade Statistics including exports and imports by partner and products, tariffs and relevant development indicators. Though Finland has a lot of lakes and rivers, it is also fairly flat, and most of the viable hydropower had already been … East European countries other than the Soviet Union Germany. Other important partners included Poland, Latvia, Denmark and … Exports fell 11.8 percent partly due to lower sales of petroleum products, paper and board, sawn timber, industrial machinery equipment, electrical machinery equipment, and transport equipment. A variety of partners are currently involved in constructing Finland’s fifth nuclear power unit and are among the owners of the power transmission network. The most common import partners for Finland are Germany ($12.4B), Russia ($10.3B), Sweden ($9.41B), Netherlands ($4.75B), and China ($4.44B). Finland is a member of the Preferential Trade Agreements (PTAS) and Regional Trade Agreements (RTAS). Finland Trade Center, Unit 1009B, Main Tower, Guangdong International Building, 339 Huanshi Dong Road - Guangzhou, China 510098 – China tel. Buying and selling are essential for any country to develop its economy and maintain good relations with other nations. The accompanying list reveals its 10 top trade partners, accounting for 61.8% of total Finnish exports. Mineral fuels, electronic equipment, nickel, organic chemicals, and pharmaceuticals are also exported from Finland to the United States. Sweden imports a variety of goods from Finland, which include mineral fuels, machinery, and vehicles, and they are the top Finnish exports to Sweden. globalEDGE - Your source for business knowledge Menu. Are The Finland Brokers World Leading? The UK The graph shows how the different countries contributed to Finland’s imports: Electronics play a big role in Finland’s trade and contribute to both the exports and the imports of the country. The UK was Finland’s seventh largest trading partner in goods in 2014. HS Code Export USD$ (84) … Post was not sent - check your email addresses! The capital of Finland is Helsinki where the central government has its headquarters. China. Other exports are copper, machinery, ships, and boats – Finland builds the world’s largest cruise ships. However, over the years the economy has ventured into other areas including information technology, electronics (Finland is the home to the famous Nokia brand) and transport fuels. According to data by Statistics Finland, the main trading partners were Germany (15.1%), Sweden (10.4%), the US and the Netherlands (6.8% each), while the country’s imports came chiefly from Germany (15.6%), Russia (13.9%), Sweden (10.8%) and China (7%). Partnership HealthPlan of CA accepts electronic files in the HIPAA compliant 5010 version of ANSI X12837 file formats. However, in addition to vehicles machinery and such, they also import gems, artificial fur, and tanning extract. Finland - Market OverviewFinland-Market Overview Discusses key economic indicators and trade statistics, which countries are dominant in the market, the U.S. market share, the political situation if relevant, the top reasons why U.S. companies should consider exporting to this country, and other issues that affect trade, e.g., terrorism, currency devaluations, trade agreements. Finland's trade deficit increased to EUR 60 million in October 2020 from EUR 36 million in the same month of the previous year, a preliminary estimate showed. At least 1.4 million out of the total national population of 5.52 million live in the Greater Helsinki and its environs. The products shipped from Finland to Germany include vehicles valued at over $2.5 billion, paper, iron, and steel; these three are the most valued. Finland advocates for free market practices which have led to a developed trading economy paired with advanced industrialization. Finland shipped US$74.2 billion worth of goods around the world in 2014. Log in. The manufacturing sector is crucial to the economy and therefore Finland imports large quantities of raw materials and parts from countries in and outside the EU. The US is a major trade partner of Finland majorly importing medical equipment valued at over $920 million, other major exports to the US are paper and machinery each valued well above $700 million. The Netherlands, Estonia, China and the United States have also gained in importance in recent years. +86 20 8331 5301 fax +86 20 8337 4183. However, in addition to vehicles machinery and such, they also import gems, artificial fur, and tanning extract. Approaching three-quarters (71%) of Finnish exports in 2019 were delivered to the above 15 trade partners. Buying and selling are essential for any country to develop its economy and maintain good relations with other nations. Other export partners of Finland are the Netherlands, China, Russia, and the United Kingdom. Sweden. Kroeplin GmbH Gartenstraße 50 36381 Schlüchtern Germany. These nations import similar goods from Finland as is the case with the top three. Finland exports, imports and trade balance By Country 2017 In 2017, Finland major trading partner countries for exports were Germany, Sweden, Netherlands, United States and Russian Federation and for imports they were Germany, Russian Federation, Sweden, China and Netherlands. They both remarked on the close relationship between Finland and Germany, particularly in the field of trade. Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on WhatsApp (Opens in new window), Click to email this to a friend (Opens in new window), Germany: US$10.3 billion (14.1% of Finland’s total exports), Russia: -US$5.2 billion (country-specific trade deficit in 2019), United States: US$3.7 billion (country-specific trade surplus in 2019), Metso (miscellaneous industrial equipment), Fiskars (scissors, gardening tools, kitchenware). Telephone: +632 6378857 Electronic equipment, wood pulp, and mineral fuels are also exported from Finland to Germany. Trade accounts for up to 33% of the Finnish GDP, large-scale manufacture of high tec… eToro Segregates clients funds and offers over 2000 instruments. Explore Visualizations Among major trade partners, decreases were seen in exports to Germany, Russia, China, and the UK. The two largest trading partners of Finland are Germany and Sweden. Finland’s exports to the United States are valued at $4.4 billion this is 7% of the total volume of exports. 3.2 Trade agreements. Trade: The top exports of Iran are Crude Petroleum ($43B), Ethylene Polymers ($2.66B), Semi-Finished Iron ($1.65B), Acyclic Alcohols ($1.65B), and Refined Petroleum ($ Phone: +49 (0) 6661 86-0 Fax: +49 (0) 6661 86-39 E-Mail: Finland is a Nordic country that borders the Baltic Sea and the Gulf of Finland. The most recent imports of Finland are led by Crude Petroleum ($6.33B), Cars ($3.42B), Refined Petroleum ($2.92B), Vehicle Parts ($1.77B), and Broadcasting Equipment ($1.65B). Finland Trade Statistics. The Nordic Culture Fund and the Finnish-Danish Cultural Fund support projects of artists in both countries. Besides, iron and steel, plastics, paper, electronic equipment, wood, and copper are some of the export items from Finland destined to Sweden. Exports to Denmark value at 1.380 billion euros, and imports from Denmark value at 1.453 billion, making Denmark Finland's 10th largest import-trading partner. The first table below shows top trading partners of Finland in terms of export sales (selling), including Russia, Sweden, and Germany. Germany has become Finland’s most important trading partner. The Netherlands. Other export partners of Finland are the Netherlands, China, Russia, and the United Kingdom. In 2018, Iran's exports per capita were $766 and its imports per capita were $617. The second lists top trade partners of Finland regarding import total (buying). Sweden is found to the northwest of Finland as one of its most immediate neighbors. The two nations engage in a trade where Sweden takes second place globally as a major importer of goods from Finland effectively accounting for 10.1% of the Finnish exports. Global Insights ... View All Export/Import Trade Partners Traded Goods (at the 2-digit HS Code level) Top 10 Export Goods. Leading increases in import purchases from Finland from 2018 to 2019 were Italy (up 50.2%), Japan (up 17.9%) and the United States (up 7.2%). Trade with Russia went from 26.7 percent of Finland's external trade in 1982 to only 2.8 percent in 1992, and the number of Finnish workers supported by economic ties with Russia plunged from 230,000 in 1981 to fewer than 50,000 in 2000. “Germany is Finland’s most important trading partner, and we both value cooperation within the European Union and the strengthening of the Union,” Prime Minister Marin said at the press conference. eToro offers both an online trading platform as well as a mobile platform giving clients easy access to markets.. Exports in Finland averaged 2869.82 EUR Million from 1975 until 2020, reaching an all time high of 6451.10 EUR Million in April of 2008 and a record low of 190.90 EUR Million in August of 1975. The WTO creates binding agreements that set a regulatory basis for international trade. The largest US partners with their total trade in goods (sum of imports and exports) in millions of US dollars for calendar year 2017 are as follows: Hong Kong. In 2018, Iran exported $62.6B and imported $50.4B, resulting in a positive trade balance of $12.2B. Trade with Russia in 2000 was about 5 percent of external trade. These nations import similar goods from Finland as is the case with the top three.