Sharing land borders with Sweden to its northwest, Norway to its north and Russia to its east, the Republic of Finland shipped US$78.2 billion worth of exported products around the world in 2024.

That dollar amount reflects a 19.1% advance from five years earlier in 2020 when Finnish exports totaled $65.6 billion.

Year over year, the value of Finland’s exported products fell by -5.3% from $82.6 billion for 2023.

Based on the average exchange rate for 2024, Finland uses the euro which flatlined via a 0.02% gain against the US dollar from 2023 to 2024. The slightly stronger European Union currency made Finland’s exports paid for in weaker US dollars modestly more expensive for buyers starting from American dollars.

Countries Spending the Most on Products Exported by Finland

The latest available country-specific data shows that two-thirds (66.6%) of products exported from Finland was bought by importers in: Germany (11.2% of the Finnish total), Sweden (11.1%), United States of America (9.6%), Netherlands (7.5%), mainland China (4.7%), Estonia (3.5%), Poland (3.36%), Belgium (3.32%), United Kingdom (3.3%), Norway (3.24%), France (3.15%) and Italy (2.6%).

From a continental perspective, 68% of Finland’s exports by value was delivered to fellow European countries while 14.5% was sold to importers in Asia. Finland shipped another 11.7% worth of goods to buyers in North America.

Smaller percentages went to customers in Africa (2.2%), Latin America (2.1%) excluding Mexico but including the Caribbean, then Oceania (1.5%) led by Australia and New Zealand.

Finland is a member in good standing of the European Union. Finnish exports to fellow EU members amounted to 56.9% of Finland’s total export sales–down from 62.3% in the prior year.

Given Finland’s population of 5.6 million people, its total $78.2 billion in 2024 exports translates to roughly $14,000 for every resident in the Northern European nation. That dollar metric lags than the average $14,700 per capita one year earlier in 2023.

Finland’s Top 10 Exports

The following export product groups represent the highest dollar value in Finnish global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from Finland.

1. Machinery including computers: US$11 billion (14.1% of total exports)
2. Electrical machinery, equipment: $7.7 billion (9.8%)
3. Paper, paper items: $6.9 billion (8.8%)
4. Mineral fuels including oil: $5.9 billion (7.5%)
5. Iron, steel: $5.1 billion (6.5%)
6. Vehicles: $3.8 billion (4.9%)
7. Optical, technical, medical apparatus: $3.6 billion (4.6%)
8. Wood: $3.3 billion (4.3%)
9. Woodpulp: $2.8 billion (3.6%)
10. Plastics, plastic articles: $2.5 billion (3.1%)

Finland’s top 10 export product categories generated 67.2% of the overall value of Finnish shipments.

Wood was the fastest grower among the top 10 export categories, up by 3.2% from 2023 to 2024.

The only other improvement in export sales belongs to paper, both a materials and items made from paper, via a 1.3% upturn.

The leading decliner among Finland’s top 10 export categories was mineral fuels including oil, recording a -25% year-over-year slowdown.

At the more detailed four-digit Harmonized Tariff System code level, Finland’s most valuable exported products are refined petroleum oils (5.9% of the Finnish total). In second place was coated paper (4.3%) trailed by Finnish exports of flat-rolled stainless steel items (3.5%), non-dissolving chemical woodpulp (3.4%), sawn wood (2.7%), medication mixes in dosage (2.6%), electrical converters and power units (2.3%), electro-medical equipment (1.8%) like x-ray machines, cruise or cargo ships and barges (also 1.8%), then cars (1.5%).

Products Generating Finland’s Biggest Trade Surpluses

The following types of Finnish product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

1. Paper, paper items: US$6.3 billion (Up by 1.4% since 2023)
2. Woodpulp: $2.6 billion (Down by -7.7%)
3. Wood: $2.5 billion (Up by 4.2%)
4. Iron, steel: $2.4 billion (Down by -14.3%)
5. Ships, boats: $1.7 billion (Down by -21.9%)
6. Gems, precious metals: $1.3 billion (Up by 2.2%)
7. Optical, technical, medical apparatus: $1.2 billion (Up by 3.2%)
8. Copper: $812.8 million (Down by -4.4%)
9. Machinery including computers: $772.4 million (Down by -52.3%)
10. Zinc: $758.4 million (Down by -5.8%)

Finland has highly positive net exports in the international trade of paper and products made from paper. In turn, these cashflows indicate Finland’s strong competitive advantages under the paper and paper items category.

Products Causing Finland’s Worst Trade Deficits

Finland incurred an overall -US$1.34 billion trade deficit for 2024, expanding by 2.2% from -$1.31 billion in red ink one year earlier in 2023.

Below are exports from Finland that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Finland’s goods trail Finnish importer spending on foreign products.

1. Mineral fuels including oil: -US$5.2 billion (Up by 20.8% since 2023)
2. Vehicles: -$3.4 billion (Down by -6%)
3. Ores, slag, ash: -$1.7 billion (Down by -14.7%)
4. Electrical machinery, equipment: -$1.5 billion (Down by -23%)
5. Articles of iron or steel: -$956.1 million (Up by 0.3%)
6. Knit or crochet clothing, accessories: -$587.4 million (Up by 2%)
7. Cereal/milk preparations: -$580.5 million (Down by -0.7%)
8. Furniture, bedding, lighting, signs, prefab buildings: -$571.9 million (Down by -10%)
9. Clothing, accessories (not knit or crochet): -$487.4 million (Down by -7.3%)
10. Aircraft, spacecraft: -$457.3 million (Up by 25.9%)

Finland has highly negative net exports and therefore deep international trade deficits under the mineral fuels-related products category, historically for crude oil, electrical energy and coal.

Finland’s Major Export Companies

Twelve Finnish corporations rank among Forbes Global 2000. Below is a sample of Finland’s major companies that Forbes included.

• Metso (miscellaneous industrial equipment)
• Neste Oil (oil, gas)
• Nokia (communications equipment)
• Outokumpu (iron, steel)
• Stora Enso (paper, paper products)
• UPM-Kymmene (paper, paper products)
• Wärtsilä (heavy equipment)

Wikipedia also lists companies headquartered in Finland that engaged in international trade transactions.

• Altia (alcoholic beverages)
• Fiskars (scissors, gardening tools, kitchenware)
• HKScan (meat products)
• Kemira Oyj (chemicals)
• Metsä Group (wood products, paper)
• Neste (refined petroleum)

 

In macroeconomic terms, Finland’s total exported goods represent 21.6% of its overall Gross Domestic Product for 2024 ($361.3 billion valued in Purchasing Power Parity US dollars). That 21.6% for exports to overall GDP in PPP for 2024 compares to 24.6% for 2023. Those percentages suggest a relatively decreasing reliance on products sold on international markets for Finland’s total economic performance, albeit based on a short timeframe.

Another key indicator of a country’s economic performance is its unemployment rate. Finland’s unemployment rate averaged 8.325% in 2024, up from an average 7.225% one year earlier in 2023 according to International Monetary Fund statistics.

Finland’s capital city is Helsinki.

See also Finland’s Top Imports, Finland’s Top Trading Partners, Germany’s Top Trading Partners, Russia’s Top Trading Partners and Sweden’s Top Trading Partners

Research Sources:
Central Intelligence Agency, The World Factbook Europe: Finland. Accessed on April 5, 2025

Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 5, 2025

International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). Accessed on April 5, 2025

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on April 5, 2025

International Trade Centre, Trade Map. Accessed on April 5, 2025

Investopedia, Net Exports Definition. Accessed on April 5, 2025

Wikipedia, Gross domestic product. Accessed on April 5, 2025

Wikipedia, List of Companies of Finland. Accessed on April 5, 2025

Wikipedia, Finland. Accessed on April 5, 2025

Wikipedia, Purchasing power parity. Accessed on April 5, 2025

X-rates.com, Exchange Rates: Euro to US Dollar (monthly average 2024). Accessed on April 5, 2025