Trade with Finland
When you speak to people in Germany about Finland, the admiration for the beautiful nature often is mentioned first. Then they know sauna is something typical Finnish and often you hear the name Nokia.
However, with its 5.5 million inhabitants, Finland has so much more to offer. With a GDP per capita at market prices of 43 480 € in 2019, according to Eurostat, Finland is on the same level as Germany with 41 340 €. It has been a member of the EU since 1995 and has introduced the Euro as one of the first countries, like Germany.
Further, based on data provided by Eurostat, the comparative price level (2018) is in Finland (126% compared to EU average) much higher than in Germany (106,8%). This reflects the pricing opportunities in Finland, even though the market is relatively small in size.
According to the OECD, 2018 the main economic sectors in Finland were: industry including energy (21%), followed by public administration, defence, education, health and social services (19,9%) and trade, repairs, transport, accommodation, food services (15.5%). At the other end of the scale with only 2.8% we find agriculture, forestry, fishing. This shows Finland is a modern industrial country.
Trade with Finland may only play a small role for many countries, but from Finnish perspectives it looks differently. For example, according to the Finnish Customs Tulli, Germany is the largest trading partner for Finland, both on import (15.2% in 2019) and on export (13.9% in 2019) of goods.
Even though only the most important key data are mentioned here, it should be emphasised that German products enjoy a good reputation in Finland. This is an advantage for your new business relationships. In principle, however, with a high-quality product, no matter where it is manufactured, one can always succeed. This is also true for Finland.