Finland trade: Exports and imports

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.
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, according 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 )

The major Finland export partners are:

  • Russia
  • Sweden
  • Germany
  • US
  • UK
  • The Netherlands

Source: http://www.investinfinland.com

Advertisements

2 thoughts on “Finland trade: Exports and imports

  1. The source states that Finland had imports of $90.94 billion in 2008. They declined to $54.1 billion in 2009. If you compare the exports and imports you can conclude that Finlands foreign trade balance is almost squared, what can be considered as positive. A policy that is based on trade balance surplus is risky, especially in times of crisis the declining demand of foreign companies could lead to insolvency of domestic ones. Therefore you should have a strong domestic demand.

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s