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In 2020, the Republic of Finland, a sovereign state in Northern Europe, exported 66.1 billion dollars in commodities around the world.
This is a 15.3 percent increase from 2016 to 2020, but a minus 9.3 percent decrease from 2019 to 2020.
Using a continental perspective, Finland's exports were supplied to fellow European countries for 68.4 percent of their value, while 15.2 percent were sold to Asian importers.
Another 10.4 percent of Finland's exports went to North America.
Latin America, excluding Mexico, but including the Caribbean got 2.5 percent, Africa got 2.2 percent, and Oceania, led by Australia, received smaller percentages of 1.3 percent.
Finland's Top Trading Partners
Here is a list of 15 of Finland's most important trading partners in terms of exports. That is, in terms of dollar value, the nations that imported the most Finnish cargo in 2020.
The percentage of total Finnish exports for each import nation is also indicated.
Germany: 8.8 billion dollars accounts for 13.3 percent of total exports in Finland
6.4 billion dollars in Sweden accounts for 9.6 percent
5.5 billion dollars in the United States accounts for 8.3 percent
4.2 billion dollars in the Netherlands account for 6.4 percent
3.4 billion dollars in China accounts for 5.1 percent
3.3 billion dollars for Russia account for 5 percent
2.3 billion dollars in the United Kingdom account for 3.5 percent
2 billion dollars in France account for 3 percent
Estonia is worth 1.9 billion dollars which is 2.8 percent
Belgium is worth 1.8 billion dollars which is 2.7 percent
Norway is worth 1.6 billion dollars which is 2.4 percent
1.6 billion dollars for Poland stands at 2.4 percent
1.5 billion dollars for Italy stands at 2.3 percent
1.1 billion dollars in Japan accounts for 1.6 percent
Spain has a budget of 970.1 million dollars which stands at 1.5 percent
In 2020, the previously mentioned 15 trading partners will account for more than two-thirds or 69.8 percent of Finnish exports.
The United States was the lone top customer to boost purchases from Finland from 2019 to 2020, with a 5.7 percent increase.
Italy went down by minus 41.2 percent, Spain was down by minus 21.3 percent, the United Kingdom was down by minus 20.7 percent, and Belgium were the countries with the largest drops in import purchases from Finland from 2019 to 2020. down by 20.6 percent.
Finland's Top Exports
The Republic of Finland, which shares land borders with Sweden to the northwest, Norway to the north, and Russia to the east, sent 66.1 billion dollars worth of goods around the world in 2020.
This is a 15.3 percent increase from 2016 to 2020, but a minus 9.3 percent decrease from 2019 to 2020.
Finland utilizes the euro, which has strengthened by 3.1 percent against the US dollar since 2016 and grew by 2 percent from 2019 to 2020, according to the average exchange rate for 2020.
In comparison to 2019, the stronger EU currency rendered Finnish exports paid in weaker US dollars comparatively more expensive for international purchasers in 2020.
According to the most recent available country-specific data, importers in Germany accounted for 13.3 percent of the global total, Sweden for 9.6 percent, the United States with 8.3 percent, the Netherlands with 6.4 percent, China with 5.1 percent, Russia with 5 percent, the United Kingdom with 3.5 percent, France with 3 percent, Estonia with 2.8 percent, Belgium with 2.7 percent, Norway with 2.4 percent, and Poland purchased 64.5 percent of Finland's exports.
On a continental scale, Finland's exports were delivered to fellow European countries for 68.4 percent of their value, while 15.2 percent were sold to Asian buyers.
Another 10.4 percent of Finland's exports went to North America.
Latin America, excluding Mexico, but including the Caribbean got 2.5 percent, Africa got 2.2 percent, and Oceania, led by Australia, received smaller percentages of 1.3 percent.
Finland's entire 66.1 billion dollars in 2020 exports equates to around 11,900 dollars per person in the Northern European country, based on its 5.5 million population.
In terms of dollar value, the following export product groups will account for the majority of Finnish global shipments in 2020.
The percentage share of each export category in terms of total exports from Finland is also shown.
9.7 billion dollars on machinery, including computers, accounted for 14.7 percent of total exports
7.3 billion dollars in paper and paper products at 11.1 percent
5.6 billion dollars in electrical machinery and equipment account for 8.5 percent
Automobiles: 5 billion dollars accounts for 7.5 percent
4.9 billion dollars in mineral fuels, including oil accounting for 7.5 percent
4.1 billion in iron and steel account for 6.2 percent
3.3 billion dollars in optical, technical, and medical equipment accounts for 4.9 percent
2.9 billion dollars in wood accounts for 4.3 percent
2.3 billion dollars in plastics and plastic goods account for 3.5 percent
2.2 billion dollars in wood pulp accounts for 3.3 percent
Finland's top ten exports accounted for nearly three-quarters of the total value of its global shipments which is 71.5 percent.
Machinery, which includes computers, is the only one of the top ten export categories that has increased by 1.5 percent from 2019 to 2020.
Mineral fuels, including oil, were down by minus 24.4 percent, wood pulp went down by minus 17.8 percent, automobiles were down by minus 12 percent, and finally, paper and products derived from the paper were the leading decliners among Finland's top 10 export categories which went down by minus 10.8 percent.
Refined petroleum oils are Finland's most valued export with 7.9 percent of the export total.
Coated paper with 6.3 percent, vehicles with 4.6 percent, non-dissolving chemical wood pulp with 3.4 percent, flat-rolled stainless steel goods with 3.2 percent, sawn wood with 2.6 percent, cruise or cargo ships with 2.5 percent, and electro-medical equipment such as x-ray machines came in second and third, respectively with 2 percent.
In 2022, Finland's total exported goods will account for 24.2 percent of its total GDP 272.7 billion dollars in Purchasing Power Parity US dollars.
In terms of PPP, exports will contribute 24.2 percent of the overall GDP in 2020, down from 27.7 percent in 2019.
Those percentages suggest that, over time, Finland's total economic performance is growing less reliant on products sold in foreign markets.
It's worth mentioning that there's a lot of re-exporting in these figures.
Another key indicator of a country's economic health is its unemployment rate.
Finland's unemployment rate was 8.1 percent in February 2021, up from 7.3 percent a year earlier, according to Trading Economics.
Finland's capital is Helsinki.
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