Discusses key economic indicators and trade statistics, which countries are dominant in the market, and other issues that affect trade.
Finland, an EU member since 1995, has redefined itself from a quiet agriculture and forestry-based economy to a trend setting global center for technology and design. The country is highly integrated into the global economy with international trade accounting for a third of its GDP. Finland’s commercial clout far exceeds its modest population of 5.5 million. According to the preliminary data from, in 2021 Finland’s GDP was $271 billion with nominal per capita GDP of $48,871 (higher than Canada or United Kingdom). It is the only Nordic country that uses the Euro.
Finland routinely ranks at the very top of international surveys on education, quality of life, competitiveness, and transparency. It sits at the epicenter of Europe’s “New North” – a unique intersection of geography, infrastructure, education, good governance, and high-technology industries. Helsinki, the second most northern capital in the world, has easy connections by rail, sea and air to Tallinn, St. Petersburg, and Stockholm.
Finland shares an 833-mile-long border and a complicated history with Russia. After the Russian invasion of Ukraine, many Finnish companies have re-considered their standing on the matter of doing business with Russia.
The European Union makes up almost 65 percent of Finland’s total trade. Finland’s largest bilateral trade flows (whether within or outside the EU) are with Germany, Russia, and Sweden. Finland’s key export sectors are transportation, electronics, forestry, machinery, and chemicals. Trade policy is managed by the European Union, where trade dependent Finland has traditionally been an advocate for free trade policies.
In 2021, the United States was the third largest market for Finnish exports and Finland’s sixth largest source of imports. Two-way trade in goods and services between the United States and Finland was about $11.6 billion. Two-way trade in goods totaled around $7.4 billion, with U.S. goods exports to Finland totaling $2.5 billion, chiefly computer and electronic products, minerals and ores, transportation equipment, chemicals, and non-electrical machinery. Finnish goods exports to the United States totaled $4.9 billion, chiefly chemicals, non-electrical machinery, petroleum and coal products, paper, and transportation equipment. Two-way trade in services totaled $1.7 billion.