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2024
The trade turnover of Russia and Finland for the year decreased to €1 billion
Trade between Russia and Finland in 2024 amounted to just over €1 billion, which is 11 times less than the level of 2021. This was announced by the Russian Ambassador to Finland Pavel Kuznetsov in February 2025. Mutual deliveries were reduced to several commodity groups that did not fall under restrictions.
According to Kommersant, for the period from January to September 2024, the volume of trade reached €900 million, having decreased by 30% compared to the same period in 2023. A significant reduction in trade occurred after the closure of the land borders at the initiative of the Finnish side.
According to the Finnish television and radio company Yle, in 2024, 60 Finnish companies carried out trade operations with Russia, of which 45 were engaged in exports and 15 in imports. The basis of Russian exports to Finland was nickel in the amount of €509.1 million, while the volume of supplies decreased by 34%.
Russia also supplied to Finland inorganic chemistry products for €52.3 million with an increase of 2.5 times, various equipment for €50.6 million with an increase of 1.9 times, gas for €25.2 million with an increase of 8.9% and fertilizers for €14.4 million with an increase of 3.6 times.
According to the publication, copper supplies in the amount of €152.3 million prevailed in the structure of Finnish exports to Russia, showing a decrease of 21%. Aluminum exports reached €23.3 million with an increase of 2.5 times, chemical products - €15.8 million with an increase of 35%, equipment - €11.4 million with a decrease of 7.4 times and protein substances - €8.9 million with an increase of 16%.
Despite the general decline in trade turnover, some categories of goods show an increase in supplies. In particular, this applies to products of inorganic chemistry, fertilizers and aluminum. At the same time, the largest reduction is observed in the supply of industrial equipment and nickel.[1]
Export of digital products - $27 billion
2023: Exports to Russia and Central Asia cut by 68.9% to €1.2 billion
The volume of Finnish exports to Russia and Central Asian countries decreased by 68.9% over the period from 2021 to 2023 and amounted to €1.2 billion in 2023. This became known in November 2024.
According to TASS Finland reports, it is one of the three countries European Union showing the most significant reduction in exports in the eastern direction. the Finnish Customs refers to the countries of Central Asia,,,, and Armenia. Georgia Kazakhstan Kyrgyzstan Turkmenistan Uzbekistan
 | Finnish companies have reduced their exports to the east significantly more than the average EU company, "said Olly-Pekka Penttilya, head of the Finnish customs statistics department. |  |
In 2021, exports from Finland to Russia and Central Asia reached €3.9 billion. In 2022, the figure decreased by 37.2% to €2.5 billion, and in 2023 a further drop of 50.5% was recorded.
Russian Ambassador Helsinki to Pavel Kuznetsov noted a decrease in the total trade turnover between the countries by almost six times - from €12 billion to €2 billion in two years. Russia has moved from Finland's top three trading partners to the second ten.
According to Eurostat, exports from the EU to Russia in two years decreased by 57%. The growth in supplies was recorded only in four countries of the union Bulgaria-,, and Latvia, Slovenia Croatia which increased exports to both Russia and Central Asia.
In Finland, there is a drop in GDP, an increase in public debt and a slowdown in investment activity. The number of bankruptcies of enterprises increased by 25% in 2023. The government is cutting spending on social programs, health and education.
Finland is showing lower economic recovery compared to its northern neighbors, which did not have such close economic ties with Russia.[2][3]
2022
Germany is the largest export destination
Trade deficit with China
Drop in direct supplies to Russia by 85% in January during the rise of exports to neighboring CIS countries by 270%
The export of Finnish goods to Russia in January amounted to 46.5 million euros, which is 85% less than a year earlier, while exports to Armenia, Kazakhstan, Uzbekistan and Kyrgyzstan increased by 270%, to 41.8 million, the statistics of Finnish customs.
Finnish companies lost €4 billion due to leaving Russia
The total losses of Finnish companies, whose shares are traded on the stock exchange in Helsinki, due to the reduction or closure of business in the Russian Federation against the background of the Russian special operation in Ukraine in 2022 amounted to about 4 billion euros. Among them are Fortum, YIT, Nokian Tyres and Finnair. Such data in early March 2023 cited the newspaper Helsingin Sanomat.
The biggest losses were suffered by the Finnish energy state company Fortum, which invested about €5 billion in cooperation with Russia. The company's losses are estimated at €1.7 billion, the company cannot sell its Russian assets. The company has become the only one in Finland whose losses are estimated at billions of euros.
Large losses from leaving the Russia publication also counted from the construction company (YIT €440 million) and tire manufacturer Nokian Tyres (€300 million). For many years, the plant in Russia and the cheap rate ruble have been competitive advantages for Nokian Tyres. Most of the tires for passenger cars were produced in Russia, the publication says. The basis of the profit of Nokian Tyres was the export of Russian-made tires to Western countries.
The main Finnish air carrier Finnair was also significantly affected by the imposition of sanctions against Russia. The airline, which has just begun to recover from the pandemic, suffered losses of €150 million in 2022. In addition, Finnair's activities are seriously affected by Russia's closure of airspace for its aircraft, which has complicated flights in the critical Asian direction for the company.
Several other large Finnish companies, including Kone, Nokia and Nordea, also reported large write-offs worth millions of euros in 2022 due to Russian business, Helsingin Sanomat reports.[4]
Deliveries to Russia through neighboring countries
Finland by the end of 2022 increased the volume of supplies to neighboring countries with Russia to €30 million per month. Their share (Armenia, Georgia, Kazakhstan and Kyrgyzstan) accounts for almost the entire growth in exports of Finnish companies. For example, Helsinki's supply to Kyrgyzstan increased by 800% in 2022. Analysts argue that most of the goods sold fall under the restrictive measures of Western countries.
The number of Finnish companies continuing to work with Russia has decreased by 85% to less than 100
The number of Finnish companies continuing to work with Russia decreased by 85% in 2022 and is less than 100 - Finland's customs. Sanctions against Russia have led to the fact that Finnish trade is almost completely - by 95% - carried out by sea.
Reduction in exports to Russia for 8 months by 29% to 1.55 billion euros
According to Finnish customs, against the background of EU sanctions due to the conflict in Ukraine, in August 2022, exports of goods to Russia collapsed by 70% compared to the same month last year, to 81.7 million euros. For 8 months, exports to the Russian Federation decreased by 29.5% to 1.55 billion euros. In the structure of exports to Russia in minus, almost all categories of goods failed - especially pulp, paper, cardboard and products from them, the export of which fell by 99% in August. The only position in which exports to Russia increased, and by 50% year-on-year, was copper matte.
2021:9% of foreign trade falls on Russia
2019: $301 million in computer device exports
2018: Clothing exports - $334 million
See also
Notes
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