BOFIT Viikkokatsaus / BOFIT Weekly Review 2020/10

Finland’s goods exports to China last year were worth 3.5 billion euros. Finland’s imports from China increased by 5 % to 4.9 billion euros. The value of Finnish goods exports overall grew by 2 %, while the value of imports decreased by 1 %.

Pulp accounted for 25 % of Finnish exports to China last year, with other wood products making up another 6 %. The value of pulp and wood exports declined slightly from 2018. Over 20 % of all Finnish pulp and wood exports went to China last year. The value of machinery & equipment exports remained at the 2018 level. Machinery and electronic equipment accounted for 30 % of Finland’s exports to China. Optical and medical devices, which accounted for another 7 % of exports, saw their value increase by 7 % last year. The value of exports of furs (4 % of total exports to China last year) and nickel ores and concentrates (5 % of exports) also rose. Some 46 % of Finland’s total fur exports and 88 % of nickel exports went to China last year.

Machinery and electronic equipment constituted over half of Finnish imports from China. The value of these imports increased slightly last year. Clothing, accessories and footwear accounted for 14 % of imports from China, furniture 5 % and toys 4 %. Finnish customs also collects industrial-specific goods trade data for each trading-partner country. Last year, wholesale and retail trade accounted for 60 % of Finland’s imports from China. As regards Finland’s domestic industries, Chinese imports are essential particularly to those involved in clothing manufacture, telecommunications and software services.

Key industries in Finland-China goods trade, 2019

Source: Finnish Customs.

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