Finland

Topics: International trade, Export, Forest Pages: 4 (1142 words) Published: April 18, 2013
1. Top three export partners
Trading is important for countries’ development. Though trade requires the balance of payment, some countries pursue trade surplus to develop their economy. Therefore, export is really a significant part in trade. The following will find out the top three of Finland trading partner on export. Finland's national economy is heavily dependent on foreign trade, 68% of industrial raw materials and 70% of the energy consumption required to import; 50% of the industrial output need to export. According to the Finnish customs website, Finland has a 61,494 million export volume in Euro in 2012. [1] [2] a. Sweden

Sweden is the biggest trading partner to Finland on export, which is over 10% of the totally Finland export in 2012. The biggest part is on petroleum and its products (26.4%). Chemicals and chemical products also take a huge part (10.5%). Besides, iron and steel, motors, machinery for specialized industries are mainly export products as well, which are fewer below 10%. [3] b. Russia

The second one is not a European Union country and its name is Russia. It has a 9.31% of contribution on Finland. It is worth mentioning that, Finland has a great trade deficit with Russia. Export is almost the half of import. Total value of imports from Russia in 2012 was EUR 10.6 billion. Energy products’ share of total imports from Russia was 83.4 %. [3] c. Germany

The third one is Germany which is 8.33%. Differ from Sweden; wood products have taken nearly 35% of the import from Finland in 2012. [3] 2. Top three major goods
Countries are different from each other. They export what they are good at and import what they lack. The exports by products by activity in 2012 showed that metal, machinery and transport industry prod. take 32.4 % of all. The second one is chemical industry products (23.4 %). Beside, Forest industry products take 19.2 %. Finland is a big import country as well. Intermediate goods take 33.9 % which is the biggest part in imports...
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