A recent study by Finnish Customs reveals a growing trade partnership between Finland and the United States. The United States has reaffirmed its position as Finland s third-largest export destination and has risen to become the fifth-largest source of imports for Finland between January and September 2023. This trading relationship has resulted in a significant surplus for Finland, highlighting the United States increasing importance as a trading partner.
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Since the beginning of the conflict in Ukraine, exports from European Union (EU) countries to Russia have significantly decreased, with the January-February period seeing only half the amount of exports as in previous years. Finnish exports to Russia have declined even more than the EU average. In contrast, EU exports to Central Asian countries have been on the rise. The increase in Finnish exports to Central Asia is due to differences in statistical methodology, new entrants to the market, and potential circumvention of sanctions.
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