Finland

Finland ranked No. 53 in total trade value through June with a total of $3.02 billion. Exports totaled $747.73 million and Imports totaled $2.27 billion, a deficit of $1.52 billion.

U.S. trade with Finland rose to $3.02 billion through June

Finland’s trade with the United States rose to $3.02 billion through the first six months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 31.68 percent below its total trade during the same time period last year. U.S. exports to Finland decreased 13.05 percent while U.S. imports from Finland fell 36.18 percent. The U.S. deficit with Finland was $1.52 billion.

Through June, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Newark; No. 2 Port of Baltimore, Md.; No. 3 Port of Alexandria Bay, N.Y.; No. 4 John F. Kennedy International Airport; and No. 5 Port of Charleston. During the same period the previous year, the top five were No. 1 Port of Baltimore, Md.; No. 2 Port of Newark; No. 3 John F. Kennedy International Airport; No. 4 Port of Virginia and No. 5 Port of Brunswick, Ga.. In the current time period, the top five accounted for 38.14 percent of Finland’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Newark fell 42.09 percent to $305.86 million.
    Exports fell 37.79 percent to $17.62 million. Imports fell 42.34 percent to $288.23 million.
  • Trade with No. 2 Port of Baltimore, Md. fell 59.86 percent to $245.1 million.
    Exports fell 55.2 percent to $15.86 million. Imports fell 60.15 percent to $229.24 million.
  • Trade with No. 3 Port of Alexandria Bay, N.Y. rose 642.64 percent to $217.19 million.
    There were no exports. Imports rose 642.64 percent to $217.19 million.
  • Trade with No. 4 John F. Kennedy International Airport fell 46.38 percent to $212.89 million.
    Exports fell 12.71 percent to $37.82 million. Imports fell 50.5 percent to $175.08 million.
  • Trade with No. 5 Port of Charleston fell 23.4 percent to $170.64 million.
    Exports fell 17.68 percent to $16.07 million. Imports fell 23.94 percent to $154.57 million.

Finland ranked No. 53 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 52.

Meanwhile, total U.S. trade with the world increased to $1.77 trillion, down 57.4 percent compared to the same period last year. The nation’s exports dropped 58.23 percent to $687.16 billion; imports dropped 56.85 percent to $1.08 trillion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $391.01 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Finland by value through June were the categories of Coal, briquettes; Low value shipments; Ethyl alcohol; Misc. raw furskins; and Civilian aircraft, parts, respectively. They accounted for 21.16 percent of total exports to Finland.

The value of the top five categories of U.S. imports from Finland –– Sutures, dental cements, etc.; Paper and paperboard, coated with kaolin; Gasoline, other fuels; Medicines in individual dosages; and Nickel –– accounted for 31.37 percent of all inbound shipments.

Looking more closely at U.S. exports to Finland:

  • Coal, briquettes rose 22.27 percent compared to last year to $35.52 million.
  • Low value shipments fell 14.4 percent compared to last year to $35.02 million.
  • Ethyl alcohol rose 304951 percent compared to last year to $30.29 million.
  • Misc. raw furskins rose 548.05 percent compared to last year to $29.94 million.
  • Civilian aircraft, parts fell 26.95 percent compared to last year to $27.45 million.

Looking more closely at U.S. imports from Finland:

  • Sutures, dental cements, etc. fell 19.17 percent compared to last year to $228.73 million.
  • Paper and paperboard, coated with kaolin fell 24.33 percent compared to last year to $199.85 million.
  • Gasoline, other fuels fell 73.96 percent compared to last year to $113.9 million.
  • Medicines in individual dosages rose 204.62 percent compared to last year to $107.22 million.
  • Nickel fell 26.71 percent compared to last year to $62.87 million.

In the latest annual figures available, Finland recorded $8.15 billion in trade with the United States. Total U.S. exports to Finland were $ 1.76 billion and imports from Finland were $6.39 billion. The U.S. deficit with Finland was $4.62 billion.